MicroStrategy shares jump as bitcoin proxy will join Nasdaq-100 index [Video]

Shares of MicroStrategy were higher Monday after Nasdaq announced the bitcoin proxy will join the tech-heavy Nasdaq-100 index.

The stock was last lower by less than 1%, after jumping as much as 7% earlier.

Nasdaq rebalances its Nasdaq-100 index every year. The companies flagged for inclusion are mostly based on the market cap rankings as of the final trading day of November. The stocks also need to meet a liquidity requirement and have a certain number of free floating shares.

The index inclusion, which takes effect Dec. 23, comes after MicroStrategy’s massive surge this year. In 2024, the stock is up 547%, far outpacing the S&P 500’s 26.9% advance, as the price of bitcoin scales to all-time highs. Bitcoin last traded around $105,900.66, up 2.6% on the day.

The addition also means MicroStrategy will be included in the popular Invesco QQQ Trust ETF, which tracks the Nasdaq-100. This will likely lead to passive inflows for MicroStrategy …