Strategy retained its position in the Nasdaq 100 following the index’s annual rebalancing, marking its first successful review since joining the benchmark in December last year and signalling continued acceptance by major equity indices.
The company, formerly known as MicroStrategy, stood out during the rebalance due to its unconventional balance sheet, which is heavily weighted towards Bitcoin (CRYPTO:BTC) rather than traditional operating assets.
Strategy has become the world’s largest corporate holder of Bitcoin, reinforcing its identity as a high-profile proxy for institutional exposure to the digital asset market.
The firm’s latest acquisition of 10,624 Bitcoin, purchased for approximately $962.7 million last week, lifted its total holdings to 660,624 BTC, valued at close to $60 billion at current market prices.
Despite its retention, Strategy’s shares closed the session down 3.74%, extending a recent downward trend that has seen the stock fall more than 15% over the past month.