MicroStrategy, the preferred high beta play on the price of bitcoin, will join the Nasdaq 100 index, a move that could further increase demand for the controversial stock that has been on a torrid run this year alongside the price of the cryptocurrency.

MicroStrategy will be added to the tech-heavy Nasdaq-100 Index, the exchange operator said on Friday, following a meteoric surge in the shares of the bitcoin buyer.

BlackRock recommends that interested investors consider allocating as much as 2% of their portfolio to bitcoin, the world's largest cryptocurrency, the giant asset manager said in a report on Thursday.

BlackRock said the risk of holding a certain amount of bitcoin is comparable to the risk generated by the Magnificent Seven mega-cap tech stocks.

Going beyond that would sharply increase bitcoin’s share of the overall portfolio risk,” the report said. When considering Bitcoin, BlackRock suggests that in