Cryptocurrency miners are adopting a Bitcoin accumulation strategy similar to that of the Nasdaq-listed business intelligence firm MicroStrategy, according to a recent JPMorgan report that details the strategy comes as miners face mounting pressure to remain profitable as the network’s hashrate rises after April’s halving.

Bitcoin’s largest corporate holder, MicroStrategy, is set to join the Nasdaq 100 Index, along with software firm Palantir Technologies and police body cameras maker Axon Enterprise. Illumina, Super Micro Computer, and Moderna will be removed from the Index, with the changes being effective ahead of the market open on Dec. 23.

Investment management firm VanEck has revealed in its 2025 outlook it believes the cryptocurrency market will see continued growth that will include another potential rise for Bitcoin, a resurgence of non-fungible tokens (NFTs) and significant developments in the decentralized finance space.

Top stories in the Crypto Roundup today:

• Crypto Miners Emulate MicroStrategy's Bitcoin Accumulation Strategy
• MicroStrategy to Join Nasdaq 100 Index
• VanEck Predicts Crypto Market Boom in 2025, with Bitcoin Potentially Reaching $180,000

Crypto Miners Emulate MicroStrategy's Bitcoin Accumulation Strategy

Cryptocurrency miners are adopting a Bitcoin accumulation strategy similar to that of the Nasdaq-listed business intelligence firm MicroStrategy, according to a recent JPMorgan report that details the strategy comes as miners face mounting pressure to remain profitable as the network’s hashrate rises after April’s halving.

Hashrate refers to the total computational power backing the network, with a higher hash rate making it harder for miners to mine additional BTC after each difficulty increase, while also making the network more secure. A hash rate increase signifies heightened competition among miners.

The competition, analysts led by Nikolaos Panigirtzoglou wrote, likely “prompted miners to hoard or seek further investments into bitcoin or diversify into AI/HPC businesses, referring to artificial intelligence and high-performance computing businesses.

Some crypto miners, including MARA Holdings, even adopted a similar metric to that used by MicroStrategy, the BTC Yield, as part of their Bitcoin accumulation strategy. Per JPMorgan’s analysts, the introduction of spot Bitcoin exchange-traded funds (ETFs) in January gave institutional investors a direct way to invest in BTC, and miners underperformed as a result, as they were then treated as a proxy for a BTC investment.

The analysts also added that miners are now also financing their businesses via debt and equity offerings, rather than through the sale of the cryptocurrency reserves.

MicroStrategy to Join Nasdaq 100 Index

Bitcoin’s largest corporate holder MicroStrategy is set to join the Nasdaq 100 Index, along with software firm Palantir Technologies and police body cameras maker Axon Enterprise. Illumina, Super Micro Computer, and Moderna will be removed from the Index, with the changes being effective ahead of the market open on Dec. 23.

The decision, announced late last week by Nasdaq Global Indexes, signals a degree of institutional acceptance for MicroStrategy, which has seen a 500% price rally this year over the firm’s massive Bitcoin stash that it first started accumulating back in 2020.

The stock’s price saw gains averaging more than 40% over the past three months, which helped propel its market capitalization to nearly $100 billion, more than half of the Nasdaq 100’s members, satisfying a key requirement for inclusion in the index. MicroStrategy’s shares are also about five times more volatile than those of the Nasdaq index itself, which could add more turbulence to it given its likely weighting.

Despite MicroStrategy’s stock surge, the firm has reported three consecutive quarterly losses, partly due to impairment charges on its substantial Bitcoin holdings. The firm currently holds 423,650 BTC worth around $44.3 billion.

The Nasdaq 100 comprises the largest non-financial companies listed on the Nasdaq and while there is no minimum market capitalization requirement, companies have to meet other criteria that involve a minimum average daily trading volume.

Inclusion in the index can enhance a company’s visibility, trading liquidity, and potential stock price. Various funds, including the $320 billion Invesco QQQ Trust, track the Nasdaq 100 and are required to hold its constituents as stocks, with approximately $451 billion in ETFs globally track the index.

VanEck Predicts Crypto Market Boom in 2025, with Bitcoin Potentially Reaching $180,000

Investment management firm VanEck has revealed in its 2025 outlook it believes the cryptocurrency market will see continued growth that will include another potential rise for Bitcoin, a resurgence of non-fungible tokens (NFTs) and significant developments in the decentralized finance space.

In its report, VanEck predicted that the cryptocurrency market will see a bull run throughout 2025, with a potential medium-term peak in the first quarter of the year. The report reads that in the “cycle’s apex” they project BTC will be trading at around $180,000, Ethereum at above $6,000, and Solana will reach the $500 mark.

After the first quarter of the year, the investment firm warned Bitcoin may face a potential 30% price correction, while alt coins would see sharper declines that could reach 60%. The fourth quarter of the year would then bring a market rebound, which could bring some tokens to new highs.

VanEck also sees the United States shift its policy toward cryptocurrencies next year to embrace Bitcoin, and potentially establish strategic Bitcoin reserves. The U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) would have new leadership that is expected to “approve multiple spot crypto exchange-traded products.”

The firm also sees stablecoins’ daily settlement volumes potentially reach $300 billion — a 400% increase from the levels currently being seen. VanEck highlights potential for major firms like Apple, Google, Visa, and Mastercard to adopt stablecoin-based payment systems.

State of the Crypto by Top Tier Exchange Volume

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