MicroStrategy to Officially Join Nasdaq 100 This Month

MicroStrategy to Officially Join Nasdaq 100 This Month

MicroStrategy will officially join the Nasdaq-100 index on December 23 after a nearly 500% rally in its stock price this year. Alongside Palantir and Axon Enterprise, MicroStrategy’s inclusion will replace biotech firms Moderna and Illumina, and server producer Super Micro Computer.

Most known for its Bitcoin-focused strategy, MicroStrategy now holds 423,650 BTC worth $43 billion, after aggressive accumulation since September. The new listing prompts analysts to predict that funds such as the QQQ ETF will purchase MSTR shares worth more than $2 billion.

With a market cap of $98 billion, the company’s Bitcoin treasuries and valuation far exceed its traditional software business contributions. Following its Nasdaq 100 inclusion, analysts anticipate MicroStrategy will aim for S&P 500 membership in 2025, though challenges remain due to the lack of profitability in its software operations.

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OpenSea Airdrop Rumors Rise After Cayman Islands Entry

OpenSea’s recent registration in the Cayman Islands has triggered speculation about a potential token launch and airdrop. Users are convinced that OpenSea will reward early adopters with tokens, following the lead of competitors like Blur and Magic Eden. Previously, OpenSea reduced its fees to regain market share but has remained behind Blur in trading volume dominance.

Blur’s entry included an incentivized airdrop strategy, distributing huge token rewards to active users. OpenSea’s upcoming platform revamp, promised by CEO Devin Finzer for December, may feature similar token incentives to boost user involvement. However, concerns linger about how trading volumes during the NFT boom in 2021-2022 will be factored into a potential airdrop.

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Market Structure Bill Gains Momentum in US Legislative Agenda

US Representative French Hill confirmed that a comprehensive crypto market structure bill will be a top priority for the Republican Party’s legislative agenda in early 2025. The Financial Innovation and Technology for the 21st Century Act (FIT21), which passed the House with bipartisan support earlier this year, aims to provide clear regulatory guidelines for digital assets.

FIT21 proposes oversight by the SEC or CFTC based on a digital asset’s decentralization level, addressing years of regulatory uncertainty. Incoming President Donald Trump’s administration is expected to further develop the bill’s prospects, with Trump favoring pro-crypto leadership and proposing that the CFTC oversee the crypto market.

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Bitcoin Investor Sentenced in Landmark Tax Evasion Case

A Satoshi-era Bitcoin investor, Frank Richard Ahlgren III, has been sentenced to two years in prison for evading taxes on $3.7 million in Bitcoin sales. Ahlgren underreported gains from selling Bitcoin acquired in 2011, leading to a $1 million tax loss for the US government. His methods included in-person cash transactions, use of crypto mixers, and inflated purchase prices to obscure profits.

This is the first US criminal tax evasion case centered exclusively on cryptocurrency. The IRS emphasized its ability to trace crypto transactions, reaffirming that digital assets are not beyond the reach of the law. The tax fraudster has been convicted to two years in prison and given to serve one year under supervised release while paying $1,095,031 in recompense.

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Data of the Day

Bitvavo, a popular Dutch crypto exchange, has reinforced its status as the world’s largest EUR spot trading platform, accounting for nearly 50% of global EUR-crypto volumes in 2024, according to Kaiko’s market report. Bitvavo offers over 350 digital assets and has the deepest liquidity for EUR-denominated trading pairs, including BTC-EUR, which now represents nearly 10% of global BTC-fiat volume.

The exchange has benefited from surging demand in Europe, where euro trading volumes exceeded €50 billion in November, more than doubling from the previous month. CEO Mark Nuvelstijn attributed Bitvavo’s success to its expansive asset offerings, competitive fees, and consumer trust promoted by impending MiCA regulations.

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More Breaking News

• Musician Drake's X account was hacked and used to promote a Solana meme coin, resulting in $5 million trading volume before posts were identified as fake.
• Liquid restaking protocols on Ethereum experienced a 6,000% TVL increase in 2024, growing from $284 million to $17 billion as staked token utility surged.
• Justin Sun connected BiT Global is suing Coinbase for delisting wrapped Bitcoin (wBTC) and launching a competing product after becoming a stakeholder in wBTC.
• BlackRock's Ethereum ETF attracted $1.5 billion in inflows over 16 days, illustrating rising investor allocations to Ethereum-focused products.
• MegaETH developer MegaLabs raised $10 million in under three minutes on Cobie's Echo platform, exceeding its initial $4.2 million target.
• Gate.io dismissed rumors of a security breach, confirming normal operations and no detected abnormalities amid unfounded online claims.
• Polygon community evaluates a proposal to deploy $1.3 billion in stablecoins from its PoS Chain bridge for yield generation, addressing an annual $70 million cost.

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