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Bitcoin proxy MicroStrategy to join the Nasdaq 100 and heavily traded ‘QQQ’ ETF [Video]

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Global Marketing Strategies

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.

The Nasdaq 100 comprises 100 of the largest nonfinancial companies in the tech-focused Nasdaq Composite index. A stock’s addition means that ETFs – including the highly popular Invesco QQQ Trust, which has $325 billion in assets – will become automatic buyers as well.

Shares of the bitcoin proxy could be set to gain off the move. They’re up more than sixfold this year, compared with bitcoin’s nearly 140% gain in the same period.

The change, which will become effective before the market open on Dec. 23, was announced Friday after the stock market close. MicroStrategy was widely telegraphed as a potential contender for membership by investors who …

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