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【Index dispute settled! MicroStrategy retains its position in the NASDAQ 100 index, Bitcoin's 'treasury mode' gains further recognition】

According to Reuters, Bitcoin holding giant MicroStrategy will continue to be listed in the NASDAQ 100 index, extending its status in this flagship index for almost a year. This decision comes amid ongoing market skepticism regarding the sustainability of its 'Bitcoin treasury' business model.

💼 Business model controversy: Is it a tech company or an investment fund?

Some market observers point out that MicroStrategy's strategy of buying and holding Bitcoin long-term has spawned dozens of imitators. However, its business model is more akin to that of an investment fund rather than a traditionally defined operating tech company. The company's stock price is highly correlated with Bitcoin prices, exhibiting volatility far exceeding that of typical component stocks.

📊 The dilemma of index compilation

Although NASDAQ has decided to retain MicroStrategy, another major global index provider, MSCI, has expressed clear concerns about including digital asset treasury-type companies in its index system. MSCI plans to decide in January next year whether to exclude MicroStrategy and similar companies from its index system, which may trigger a new round of 'index identity' disputes.

🚀 Impact and significance

This retention signifies that NASDAQ temporarily recognizes MicroStrategy's compliance and representativeness as a 'Bitcoin-based' listed company. Given that spot Bitcoin ETFs have already been approved, this move also provides important reference for other publicly traded companies heavily invested in crypto assets.

A dispute over how 'crypto companies should be defined' continues. $BTC $ETH $SOL #美联储FOMC会议
Answer: 666