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Bitcoin breaks above $107,000 as MicroStrategy heads to Nasdaq 100

Published 17/12/2024, 10:51 pm
© Reuters.  Bitcoin breaks above $107,000 as MicroStrategy heads to Nasdaq 100
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Bitcoin (BTC) smashed another all-time high late on Monday night as the world’s largest cryptocurrency flew above $107,000 for the first time ever.

The BTC/USD pair reached as high as $107,800 and at the time of writing, remains around the $106,800 price point.

Bitcoin’s latest ATH – the most recent in a string of new record highs – came as MicroStrategy Incorporated (NASDAQ:MSTR) won a spot on the FTSE 100 blue-chip technology index.

MicroStrategy is the largest corporate bitcoin holder globally, with 386,700 coins on its balance sheet at last count.

At current spot prices, that represents a dollar value of over $41 billion.

Historically a software firm, founder and bitcoin maximalist Michael Saylor has turned the business into something of a Nasdaq-listed bitcoin proxy.

The strategy has paid off handsomely in 2024- shares are currently up a blistering 500% year to date.

MicroStrategy will formally enter the Nasdaq 100 after the next index rebalancing scheduled for 23 December.

Bitcoin is up over 150% year to date – Source: tradingview.com

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