MicroStrategy (MSTR) 升至纳斯达克 100 指数，标志着比特币和金融市场的里程碑

您可能认识迈克尔·塞勒（Michael Saylor），他是最直言不讳的比特币大使之一。嗯，他的公司 MicroStrategy (MSTR) 刚刚成为头条新闻，正式成为

Key Takeaways:

要点：

You probably know Michael Saylor, one of the most vocal Bitcoin ambassadors. Well, his company, MicroStrategy (NASDAQ:MSTR), has just made headlines by being officially added to the Nasdaq 100—one of the most prestigious stock indices in the world. This is not only a success for MicroStrategy but also a very important milestone for Bitcoin and financial markets.

您可能认识迈克尔·塞勒（Michael Saylor），他是最直言不讳的比特币大使之一。他的公司 MicroStrategy（纳斯达克股票代码：MSTR）刚刚正式入选纳斯达克 100 指数（世界上最负盛名的股票指数之一），从而成为头条新闻。这不仅是 MicroStrategy 的成功，也是比特币和金融市场的一个非常重要的里程碑。

MicroStrategy Rises to NASDAQ 100

MicroStrategy 跻身纳斯达克 100 强

On December 13, 2024, Nasdaq announced new companies joining the Nasdaq 100 index. MicroStrategy came up as a high riser on the list, taking the place of such tech behemoths as Palantir Technologies Inc. (NYSE:PLTR) and Axon Enterprise, Inc. (NASDAQ:AXON). In fact, the addition of this company had meant the removal of three from the index, namely Illumina, Inc. (NASDAQ:ILMN), Super Micro Computer, Inc. (NASDAQ:SMCI), and Moderna, Inc. (NASDAQ:MRNA).

2024年12月13日，纳斯达克宣布有新公司加入纳斯达克100指数。 MicroStrategy 在榜单上名列前茅，取代了 Palantir Technologies Inc.（纽约证券交易所股票代码：PLTR）和 Axon Enterprise, Inc.（纳斯达克股票代码：AXON）等科技巨头。事实上，这家公司的加入意味着从指数中删除三家公司，即 Illumina, Inc.（纳斯达克股票代码：ILMN）、Super Micro Computer, Inc.（纳斯达克股票代码：SMCI）和 Moderna, Inc.（纳斯达克股票代码：MRNA） ）。

What does this mean?

这意味着什么？

In simple terms, the Nasdaq 100 is just the 100 largest non-financial companies listed on the Nasdaq exchange. Therefore, inclusion in this list just means that MicroStrategy has finally become one of the largest market-cap companies on Nasdaq.

简单来说，纳斯达克100就是在纳斯达克交易所上市的最大的100家非金融公司。因此，进入这份榜单只是意味着MicroStrategy终于成为纳斯达克市值最大的公司之一。

MicroStrategy’s Rise with Bitcoin

MicroStrategy 随比特币崛起

A full-fledged Bitcoin investment vehicle from an otherwise software company, 2020 saw MicroStrategy flip into one of the largest Bitcoin holders in the world, as Michael Saylor poured capital into it once revenues from its software segment began falling. At the time of recording, December 8, 2024, the company holds roughly 423,650 Bitcoin, valued at close to $42.4 billion—a number that is actually incredible.

MicroStrategy 是一家来自软件公司的成熟比特币投资工具，2020 年，MicroStrategy 成为全球最大的比特币持有者之一，当其软件部门的收入开始下降时，Michael Saylor 向其注入了资金。截至 2024 年 12 月 8 日记录时，该公司持有约 423,650 个比特币，价值接近 424 亿美元——这个数字实际上令人难以置信。

The Surge of MSTR Stock

MSTR股票飙升

The decision to invest in Bitcoin sent MSTR’s stock high flying. Its stock has surged more than sixfold this year, forcing the market capitalization of MicroStrategy to approach nearly $94 billion. This explosive growth earned it a place in the Nasdaq 100.

投资比特币的决定使 MSTR 的股价飙升。今年，MicroStrategy 的股价已飙升六倍多，迫使其市值逼近近 940 亿美元。这种爆炸性的增长使其在纳斯达克 100 指数中占有一席之地。

More News: Microstrategy Borrows $205 Million To Purchase More Bitcoin

更多新闻：Microstrategy 借款 2.05 亿美元购买更多比特币

Impact on the Financial Markets

对金融市场的影响

ETF Cash Flows:

ETF 现金流量：

This carries a lot of implications because by joining the Nasdaq 100, MicroStrategy opens up the potential for massive inflows from Exchange-Traded Funds tracking the index. These funds would typically buy shares in the companies within the index in an effort to mirror their portfolio to that of the index. QQQ Trust alone manages around $322 billion in assets.

这带来了很多影响，因为通过加入纳斯达克 100 指数，MicroStrategy 开启了追踪该指数的交易所交易基金大量资金流入的潜力。这些基金通常会购买指数内公司的股票，以使其投资组合与指数的投资组合相匹配。仅 QQQ Trust 就管理着约 3,220 亿美元的资产。

The Domino Effect:

多米诺骨牌效应：

In a sense, according to Jeff Park, an analyst at Bitwise Invest, MicroStrategy’s inclusion into the Nasdaq 100 could be “the trade of the decade.” What this really means is that major pension funds, sovereign wealth funds, and individual retirement accounts around the world will indirectly get exposed to Bitcoin through MSTR.

Bitwise Invest 分析师杰夫·帕克 (Jeff Park) 表示，从某种意义上说，MicroStrategy 被纳入纳斯达克 100 指数可能是“十年来的最佳交易”。这真正意味着世界各地的主要养老基金、主权财富基金和个人退休账户将通过 MSTR 间接接触比特币。

Commentary:

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In turn, this can be attributed to one of those historical moments of development that essentially took place within the crypto market. This just explains that Bitcoin is finding itself more and more into mainstream adoption in the financial world; and increasingly, it’s not solely looked upon as a “risk” investment but forms part of mainstream institutional portfolios slowly and surely. Felix Hartmann, founder of Hartmann Capital, went as far as to say that fund managers looking to keep pace with the Nasdaq may need to gain exposure to Bitcoin or MSTR.

反过来，这可以归因于本质上发生在加密货币市场内的发展历史时刻之一。这恰恰说明了比特币越来越成为金融界的主流采用；而且，它不再仅仅被视为一种“风险”投资，而是缓慢而坚定地成为主流机构投资组合的一部分。 Hartmann Capital 创始人 Felix Hartmann 甚至表示，希望跟上纳斯达克步伐的基金经理可能需要投资比特币或 MSTR。

Michael Saylor and His Vision for Bitcoin

迈克尔·塞勒和他对比特币的愿景

Michael Saylor never seems to stop investing within his company, but does one step further by pursuing an active campaign of increasing the adoption of Bitcoin not just for his company but the many large corporations out there. Thus, recently, he gave another brief, three-minute overview presentation to Microsoft’s Board of Directors, arguing what would amount to nearly another $5 trillion in market cap in their stock price while he tries to get them to officially “all in” for Bitcoin. Microsoft can’t afford to miss it, he said. The next wave of tech. Bitcoin is that.

迈克尔·塞勒 (Michael Saylor) 似乎从未停止在他的公司内部进行投资，但他更进一步，发起了一场积极的活动，不仅为他的公司，也为许多大公司增加比特币的采用。因此，最近，他向微软董事会做了另一场简短的三分钟概述演讲，认为他们的股价将达到近 5 万亿美元的市值，同时他试图让他们正式“全押”比特币。他说，微软不能错过这个机会。下一波科技浪潮。比特币就是这样。

Summary Table

汇总表

Additional Insights

额外的见解

This is an event that has given birth to a number of interesting questions: will other big companies follow the example of MicroStrategy and start heavy investments in Bitcoin; can MicroStrategy continue with this impressive performance and position? Some analysts really believe that it is highly probable that MicroStrategy could be qualified as a financial company since its value comes mainly from Bitcoin and not because of its software operations. If that happens, the company’s time in the Nasdaq 100 might be short-lived. However, according to James Van Straten of CoinDesk, this could even increase pressure on other major funds, like the SPDR S&P 500 Trust (NYSE:SPY), to consider buying MSTR shares

这一事件催生了许多有趣的问题：其他大公司是否会效仿 MicroStrategy 开始大量投资比特币？ MicroStrategy 能否继续保持这种令人印象深刻的业绩和地位？一些分析师确实认为，MicroStrategy 很有可能符合金融公司的资格，因为它的价值主要来自比特币，而不是因为其软件业务。如果这种情况发生，该公司在纳斯达克 100 指数中的日子可能会很短暂。然而，CoinDesk 的 James Van Straten 表示，这甚至可能会增加 SPDR S&P 500 Trust（纽约证券交易所股票代码：SPY）等其他主要基金考虑购买 MSTR 股票的压力