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Michael Saylor, the founder of MicroStrategy and a well-known advocate for Bitcoin, has identified crypto miner MARA Holdings as the next Bitcoin-related company likely to join the esteemed Nasdaq 100 index.
This forecast was made following a message from MARA Holdings’ chairman and CEO, Fred Thiel, who expressed his congratulations to Saylor on MicroStrategy’s recent entry into the index.
“Thanks Fred. I anticipate $MARA will be the next,” Saylor remarked in a post on X dated Dec. 14.
MicroStrategy Joins Nasdaq 100
Saylor’s comment came after Thiel’s announcement celebrating MicroStrategy’s inclusion in the Nasdaq 100, which is scheduled to take effect before trading begins on Dec. 23.
Being included in the Nasdaq 100 represents a significant achievement, as it indicates membership among the top 100 non-financial firms on the Nasdaq exchange based on market capitalization.
As of Dec. 13, MicroStrategy’s market capitalization was $94.77 billion, while MARA’s was reported at $7.32 billion, according to data from Financecharts.
Fred Thiel acknowledged Saylor’s statement, emphasizing MARA’s goal to achieve this milestone. “We’re working diligently to get there,” he noted.
MARA’s recent financial activities highlight this commitment.
The company invested over $600 million in Bitcoin in the last two months, as detailed in a filing with the U.S. Securities and Exchange Commission (SEC) on Dec. 2.
Thanks Fred. I expect $MARA will be the next.
— Michael Saylor
(@saylor) December 14, 2024
MARA’s stock has also shown positive growth, closing at $22.73 on Dec. 13, which marks a 16.74% increase over the past six months.
In contrast, MicroStrategy concluded the day at $408.67, reflecting an impressive 173.27% rise during the same timeframe, according to data from Google Finance.
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The inclusion of MicroStrategy in the Nasdaq 100 coincides with the removal of Illumina, Super Micro Computer, and Moderna.
This reshuffling of the index illustrates its evolving nature and the increasing prominence of Bitcoin-centric companies.
MARA’s aspirations go beyond stock market achievements. On Nov. 26, the firm urged for stronger U.S. measures to “secure dominant positions in Bitcoin and Bitcoin mining,” presenting it as a matter of national security.
MARA Acquires Nearly 12K Bitcoin
MARA Holdings (MARA) announced on X on Dec. 10 that it had acquired 11,774 BTC in its latest purchase.
The mining company utilized proceeds from its zero-coupon convertible notes offerings to buy Bitcoin, spending approximately $1.1 billion at an average price of $96,000 per Bitcoin.
This acquisition raises MARA’s total Bitcoin holdings to 40,435 BTC as of Dec. 9, valued at $3.9 billion based on the current Bitcoin price.
MARA has also reported a yield of 12.3% on its Bitcoin holdings for the quarter and a year-to-date yield of 47.6%.
Riot Platforms, another Bitcoin mining entity, has also revealed plans to raise $500 million through a private bond offering to further enhance its Bitcoin reserves.
Additionally, MicroStrategy, a business intelligence firm and noted Bitcoin supporter, has expanded its already significant Bitcoin holdings.
According to an official filing from Dec. 9, MicroStrategy acquired 21,550 BTC for approximately $2.1 billion between Dec. 2 and 8.
This purchase, made at an average price of $98,783 per Bitcoin, brings MicroStrategy’s total Bitcoin holdings to 423,650 BTC, valued at around $41.5 billion.
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