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.

Development Company became one of the 75 largest non-financial firms in the Nasdaq after its explosive growth this year.

MicroStrategy Nasdaq inclusion in Nasdaq-100 Index draws potential $2.1 billion ETF inflows, boosting stock projections to $600.

MicroStrategy's potential inclusion in the Nasdaq 100 Index could boost its bitcoin-driven momentum and attract more capital for further BTC purchases.

A Nasdaq 100 inclusion could spur more gains for MicroStrategy, whose bitcoin holding was valued at about $42 billion, as more investment firms include the stock in their portfolios to accurately reflect the index composition.

MicroStrategy is poised for potential inclusion in the Nasdaq-100, despite concerns over its classification due to Bitcoin holdings.

Nasdaq has revealed that Michael Saylor’s MicroStrategy firm will be included in the Nasdaq-100 Index. The exchange operator said on Friday, after a meteoric surge in the shares of the Bitcoin buyer.