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.

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.

Nasdaq 100 Index, a development that would trigger purchases of the shares by the $451 billion worth of exchange-traded funds around the world that directly track the benchmark.Yet market watchers are entertaining the possibility it gets snubbed in the index’s annual reshuffling on Friday for one simple reason: MicroStrategy has morphed into a levered bet on Bitcoin attached to a small software company that many say has no business being among the 100 most-important stocks on the Nasdaq.

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

MicroStrategy stock has rallied considerably on the back of Bitcoin’s meteoric rise. The resulting increase in market capitalization has set the stock on the path to a Nasdaq 100 inclusion. While the news may be positive for many,

Bitcoin advocates MicroStrategy is now part of Nasdaq 100, joining Apple, Tesla, and others in a milestone in crypto's journey into the mainstream.

A meteoric rise in MicroStrategy's shares has made the bitcoin hoarder a likely candidate for the tech-heavy Nasdaq 100 index ahead of an annual reshuffle this week.