Ramazan Eles 
MicroStrategy (MSTR), the company holding the most Bitcoin of any publicly traded corporation, has been included in a major global equity index. This follows a significant increase in their stock price.
MSCI, a leading provider of investment research tools including stock indexes (originally Morgan Stanley Capital International), announced the news on Tuesday. MicroStrategy is one of the three largest additions by market value to their prestigious MSCI World Index. The change will take effect on May 31st, 2024.
As of April 29th, MicroStrategy boasts a holding of 214,400 Bitcoins (BTC), valued at roughly $13.5 billion at current prices. Their total Bitcoin purchases came at a cost of $7.5 billion, averaging $35,180 per Bitcoin. This translates to a potential profit on paper of around $6 billion.
MicroStrategy’s stock price has skyrocketed since mirroring the December 2022 slump in the cryptocurrency market. Since then, their shares have seen a more than eightfold increase and are up over 87% year-to-date. This outperforms Bitcoin’s 2024 gains of 45%, according to TradingView data.
In March, Kerrisdale Capital, an investment firm holding a short position against MicroStrategy, argued their stock was trading at an “unjustifiable premium” compared to Bitcoin’s price.