MicroStrategy shares rose 6% in premarket trading on Monday as the software company and bitcoin buyer was set to join the tech-heavy Nasdaq 100 index that could further strengthen a rally in the stock.

The $25.7 trillion index that houses the largest nonfinancial companies will now gain indirect exposure to bitcoin via MicroStrategy, which holds $44 billion worth of the digital currency on its balance sheet, about 2% of the total supply of the world’s largest cryptocurrency.

The prospect of more buying from funds that track the Nasdaq 100 could further boost........

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