MSCI Inc. has announced the May 2024 Index Review, which includes adding the bitcoin-focused Microstrategy to the MSCI World Index. This decision follows the Nasdaq-listed software intelligence firm’s stock outperforming bitcoin and other major investments. Microstrategy currently holds over 214K bitcoins.
Microstrategy Joins MSCI World Index Amid Bitcoin Rally
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MSCI World Index Adds Microstrategy
MSCI Inc. (NYSE: MSCI), a premier operator of global equity indices and provider of investment decision support tools, announced Tuesday the results of its May 2024 Index Review for the MSCI Equity Indexes. All changes will take effect as of the close of May 31.
The review includes updates to the MSCI Global Standard Indexes. “Forty-two securities will be added to and 121 securities will be deleted from the MSCI ACWI Index,” the company said, adding:
The three largest additions to the MSCI World Index measured by full company market capitalization will be Microstrategy (USA), Pure Storage (USA), and Emcor Group (USA).
Microstrategy’s addition to the MSCI World Index followed a rally in its stock that outpaced bitcoin’s performance. Since adopting its BTC strategy on August 10, 2020, Microstrategy’s stock has massively outperformed the cryptocurrency, the S&P 500, the Nasdaq, gold, silver, and major tech stocks. At the time of writing, bitcoin is trading at $65,025.
The company held 214,400 BTC as of April 26. Michael Saylor, the company’s founder and executive chairman, recently stated that he believes capital will keep flowing from other asset classes, such as gold and real estate, into bitcoin because the cryptocurrency is “technically superior to those asset classes.” He explained that the approval of spot bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) has “opened up a gateway for institutional capital to flow into the bitcoin ecosystem.” He also said in February that BTC has become the “most popular investment asset.”
What do you think about Microstrategy being added to the MSCI World Index? Let us know in the comments section below.
