Saylor expects MARA to be ‘the next’ Bitcoin firm to join Nasdaq 100

MicroStrategy founder and Bitcoin bull Michael Saylor has tipped crypto miner MARA Holdings to be next in line among Bitcoin firms to join the Nasdaq 100.

“Thanks Fred. I expect $MARA will be the next,” Saylor said in a Dec. 14 X post, responding to MARA Holdings chairman and CEO Fred Thiel, who congratulated Saylor on MicroStrategy’s inclusion in the Nasdaq-100 Index, which was announced on Dec. 13.

MicroStrategy is expected to join before the trading day begins on Dec. 23.

MARA aims for Nasdaq 100

“Congratulations to $MSTR and @saylor for being the first Bitcoin treasury company to join the Nasdaq 100,” Thiel said.

Thiel said MARA is “working hard to get there.” The crypto miner has spent more than $600 million on Bitcoin in the last two months, according to a Dec. 2 filing with the United States Securities and Exchange Commission.

Being included in the Nasdaq 100 means the company is one of the 100 biggest on the Nasdaq stock exchange by market capitalization. MicroStrategy closed the trading week on Dec. 13 with a market cap of $94.77 billion, according to Financecharts data.

Meanwhile, MARA clocked a market cap of $7.32 billion.

MicroStrategy joins alongside two other companies

As for stock prices, MARA closed the trading week on Dec. 13, trading at $22.73, up 16.74% over the past six months, according to Google Finance data.

MARA Holdings one-day price chart at market close day on December 13. Source: Google Finance

MicroStrategy closed at $408.67, up 173.27% over the past six months.

For new companies to join the Nasdaq 100, others must be removed. While MicroStrategy was one of three firms added, Illumina, Super Micro Computer, and Moderna will be removed.

Related: Bitcoin tumbles will be ‘less abrupt’ after realized profit drops 76%

On Nov. 27, Cointelegraph reported that MARA Holdings urged the United States to act more aggressively to “secure dominant positions in Bitcoin and Bitcoin mining,” claiming it’s a matter of national security. 

“The United States faces an urgent need to secure its economic and national security interests,” MARA wrote in a Nov. 26 X post.

The miner added that the US needs to take the lead in holding Bitcoin just like it has with gold, particularly with the rising trend of de-dollarization — countries shedding reliance on the US dollar. 

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