They Called Him Crazy - Now Saylor's Bitcoin Obsession is Laughing All the Way to the Nasdaq 100

Well, Michael Saylor’s Bitcoin-obsessed brainchild just leveled up. MicroStrategy is officially joining the Nasdaq 100, a tech-stock VIP club that includes the likes of Apple, Microsoft, and Tesla. Naturally, for Saylor this is a big league mic drop, but for the crypto mouth breathers? It’s another “we told you so” moment to show the haters Bitcoin isn’t just internet Monopoly money.

(Source: Giphy) 

In short, MicroStrategy recently dropped a whopping $1.5 billion to scoop up 15,350 bitcoins. That brings their total stash to a mind-bending 439,000 BTC, worth $42.2 billion at today’s prices. For context, that’s about 2% of Bitcoin’s entire supply. Let that sink in.

(Source: Crypto News) 

The crazy part?  This time, MicroStrategy paid over $100,000 per Bitcoin for the first time ever. Which for one, is massively insane, and two, brings up the question: How’d they fund this massive buy? The answer comes from selling nearly 3.88 million Class A shares to the tune of $27.1 billion. That’s not just commitment—it’s borderline obsession. But hey, the numbers don’t lie: MicroStrategy’s self-invented metric, the Bitcoin Yield, is up 72% year-to-date. 

But despite the bottomless wallets MicroStrategy seems to have, this Nasdaq 100 thing is the real needle mover for Saylor. Simply put, for a company that’s basically turned into a Bitcoin hedge fund with a side hustle in business software, this is a massive validation moment. It’s like getting bumped up from the kids’ table at Thanksgiving to carving the turkey with Grandpa Buffett himself.

(Source: CNBC) 

So for MicroStrategy, this move means two things. The first being more ETF exposure. See,  ETFs like the Invesco QQQ Trust, which tracks the Nasdaq 100, will now include MicroStrategy. That’s Wall Street talk for “free money” via passive inflows. The second part is seismic stock momentum. And with $MSTR shares already up an eye-watering 521% YTD (yes, really),  getting added to the Nasdaq 100 is like pouring jet fuel on a campfire.

So yeah, it’s clear this isn’t necessarily about prestige—it’s about liquidity, baby. As Bernstein analyst Gautam Chhugani put it, MicroStrategy’s inclusion “improves market liquidity, further expanding its capital flywheel.” Translation: They can raise more cash, buy more Bitcoin, rinse, and repeat.

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Now of course, not everyone is buying into the Saylor hype train. The usual suspects like Peter Schiff (a.k.a. the guy who’s been wrong about Bitcoin since The Sopranos was still airing) are quick to point out the risks. Risks being: volatility, regulation, and business neglect (which let’s be real—MicroStrategy’s original bread-and-butter, business intelligence software, feels like an afterthought at this point.) 

But, but, but… does Saylor care? Absolutely not. The man’s out here preaching Bitcoin as the “future of finance” like he’s a decentralized messiah. At the Bitcoin 2023 conference, he called Bitcoin “thermodynamically sound” and the “ultimate counterparty risk killer.” And now, with 439,000 BTC locked and loaded and a new Nasdaq 100 badge to write home about, it’s clear Saylor isn’t slowing down. 

(Source: Giphy) 

Sure, critics might call it reckless, but Saylor’s playing the long game. And for now, it looks like he’s winning. Michael Saylor, 1. Haters, 0. In the meantime, do what you will with this information, and if you’re a crypto mouth breather, have yourself a day—the hype train is still real. As always, stay safe and stay frosty, friends! Until next time… 

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Stocks.News holds positions in Microsoft, Tesla, and Apple as mentioned in the article.