MicroStrategy 加入納斯達克 100 指數，這是接受比特幣押注的標誌

（彭博）—基準監管機構週五表示，網路時代的軟體製造商 MicroStrategy Inc. 已轉型為比特幣槓桿押注，震驚了華爾街，該公司即將加入納斯達克 100 指數。

Nasdaq Global Indexes said late Friday that MicroStrategy Inc., Palantir Technologies Inc. and Axon Enterprise Inc. will join the Nasdaq 100 Index, while Illumina Inc., Super Micro Computer Inc. and Moderna Inc. will be removed, effective prior to market open on Monday, Dec. 23.

納斯達克全球指數週五晚間表示，MicroStrategy Inc.、Palantir Technologies Inc. 和Axon Enterprise Inc. 將加入納斯達克100 指數，而Illumina Inc.、Super Micro Computer Inc. 和Moderna Inc. 將被剔除，在開市前生效12 月 23 日星期一。

The decision to add MicroStrategy, announced late Friday by Nasdaq Global Indexes, represents a major stamp of institutional acceptance for its controversy-courting founder, Michael Saylor, whose disdain for Wall Street convention has helped spur a 500% rally in its shares this year and made him a hero to Bitcoin bulls. MicroStrategy, which started out as a maker of enterprise analytics software, has gained renown and become vastly more valuable since it started amassing the cryptocurrency hand-over-fist in 2020.

週五晚些時候，納斯達克全球指數宣布了將MicroStrategy 納入其中的決定，這標誌著該公司備受爭議的創始人邁克爾·塞勒(Michael Saylor) 得到了機構的認可，他對華爾街慣例的蔑視促使其股價今年上漲了500%，使他成為比特幣多頭的英雄。 MicroStrategy 最初是一家企業分析軟體製造商，自從 2020 年開始累積加密貨幣以來，它已經贏得了聲譽，並且變得更加有價值。

Gains averaging more than 40% over the last three months pushed the company's market value to almost $100 billion, more than about half the Nasdaq 100’s members, satisfying a key prerequisite for membership. With the appreciation has also come extreme volatility — the shares have swung about five times as much as the Nasdaq index over the span — a trait that could add turbulence to the benchmark itself.

過去三個月平均漲幅超過 40%，將該公司的市值推至近 1000 億美元，超過納斯達克 100 指數成分股的一半以上，滿足了成為會員的關鍵先決條件。隨著升值也帶來了劇烈的波動——該股在此期間的波動幅度約為納斯達克指數的五倍——這一特徵可能會加劇該基準指數本身的動盪。

Shares of the Tysons Corner, Virginia-based company have become a major investment story this year by surging more than 500% as it accelerated an unconventional plan to raise capital solely to purchase and hold the cryptocurrency. It has announced multibillion-dollar acquisitions every Monday over the past five weeks, surging along with the token's price — and raising questions in some circles about the strategy's sustainability.

這家總部位於維吉尼亞州泰森斯角的公司的股價今年飆升了500% 以上，成為了一個主要的投資故事，因為該公司加速了一項非常規計劃，旨在籌集資金以購買和持有加密貨幣。在過去的五周里，它每週一都會宣布價值數十億美元的收購，隨著代幣價格的上漲，一些人對該戰略的可持續性提出了質疑。

MicroStrategy's inclusion in the index may have bullish implications for Bitcoin itself, though the connection is tenuous. Besides selling convertible bonds, Saylor has raised billions of dollars to fund his crypto buying by issuing fresh stock into the market. Those sales could become easier should index-tracking investors become a near-term source of demand.

MicroStrategy 被納入該指數可能會對比特幣本身產生看漲影響，儘管這種聯繫很脆弱。除了出售可轉換債券外，塞勒還透過向市場發行新股票籌集了數十億美元，為他的加密貨幣購買提供資金。如果追蹤指數的投資者成為近期需求來源，這些銷售可能會變得更容易。

MicroStrategy posted a third consecutive quarterly loss after taking an impairment charge against the value of its roughly $18 billion stockpile of the cryptocurrency. Third-quarter revenue from its software business fell 10% below forecasts.

MicroStrategy 在對其約 180 億美元的加密貨幣庫存進行減損準備後，連續第三個季度出現虧損。第三季軟體業務收入比預期下降 10%。

Palantir’s inclusion highlights the tailwinds from artificial intelligence, which pushed the stock to a blistering 343% rally this year. It is also another milestone for a company that makes data analysis tools for companies and governments after being added to the S&P 500 in September.

Palantir 的加入凸顯了人工智慧的推動力，推動該股今年漲幅高達 343%。這也是一家為企業和政府提供資料分析工具的公司繼9月入選標普500指數之後的另一個里程碑。

Co-founded by billionaire Peter Thiel, the company reported better-than-expected quarterly revenue for the third quarter and raised its forecast for operating income in the current period, citing high demand in the US for its artificial intelligence software.

該公司由億萬富翁彼得·蒂爾(Peter Thiel)共同創立，報告第三季度營收好於預期，並上調了本期營業收入預期，理由是美國對其人工智慧軟體的需求很高。

Palantir built its reputation working with the US national intelligence community, and is now used across all US military branches and by allied forces in Ukraine and Israel.

Palantir 與美國國家情報界合作建立了良好的聲譽，目前已在美國所有軍事部門以及烏克蘭和以色列的盟軍中使用。

Meanwhile, Axon is also having a great year, with its stock surging 150% year-to-date. The Scottsdale, Arizona-based company reported better-than-expected third-quarter profit and raised its full-year revenue forecast. Investors and analysts have been bullish on its new bundle of AI-powered software, including Draft One, which can produce written reports from audio transcriptions taken from police body-cams.

與此同時，Axon 也度過了美好的一年，其股價今年迄今飆升了 150%。這家總部位於亞利桑那州斯科茨代爾的公司公佈了好於預期的第三季利潤，並上調了全年收入預期。投資者和分析師一直看好其新的人工智慧軟體套件，其中包括 Draft One，該軟體可以根據警方隨身攝影機收集的音訊轉錄生成書面報告。

The Nasdaq 100 comprises the largest non-financial companies listed on the Nasdaq stock exchange. There is no minimum market capitalization requirement to be eligible for inclusion, but stocks must have an average daily trading volume of at least 200,000 shares, among other criteria.

納斯達克 100 指數由在納斯達克證券交易所上市的最大的非金融公司組成。納入資格沒有最低市值要求，但除其他標準外，股票的平均每日交易量必須至少為 200,000 股。

Joining the index can benefit a company by providing increased equity trading liquidity, a lower cost of capital and heightened visibility from investors. Furthermore, a spot in the coveted Nasdaq 100 boosts a firm’s investor profile and adds to trading liquidity — factors that can potentially propel a company’s stock price.

加入該指數可以提高股票交易流動性、降低資本成本並提高投資者的知名度，從而使公司受益。此外，進入令人垂涎的納斯達克 100 指數可以提高公司的投資者形象並增加交易流動性——這些因素可能會推動公司的股價上漲。

Many large index funds, like the $320 billion Invesco QQQ Trust Series 1 exchange-traded fund, track the Nasdaq 100 and must own all of its members’ shares. And actively managed funds that are benchmarked against it have to buy the stocks as well.

許多大型指數基金，例如價值 3,200 億美元的 Invesco QQQ Trust Series 1 交易所交易基金，追蹤納斯達克 100 指數，並且必須擁有其所有成員股票。以它為基準的主動式管理基金也必須買進這些股票。

Some $451 billion in ETFs around the world directly track the Nasdaq 100 and at least $22 billion of buying across 19 different stocks by ETFs around the world will occur when the index rebalances, Bloomberg Intelligence's James Seyffart wrote in a recent note. The addition of Palantir, MicroStrategy and Axon will potentially fuel at least $3.8 billion, $2.1 billion, and $1.3 billion of purchases, respectively, his calculations show.

彭博資訊(Bloomberg Intelligence) 的James Seyffart 在最近的一份報告中寫道，全球約有4510 億美元的ETF 直接追蹤納斯達克100 指數，當該指數重新平衡時，全球ETF 將會購買至少220 億美元的19 隻不同股票。他的計算顯示，Palantir、MicroStrategy 和 Axon 的加入將可能分別推動至少 38 億美元、21 億美元和 13 億美元的採購。

The Nasdaq 100 is up 30% this year as mega-cap technology shares lift the index. By comparison, the S&P 500 has gained 27%, while

由於大型科技股提振了那斯達克 100 指數，該指數今年上漲了 30%。相比之下，標準普爾 500 指數上漲了 27%，而