MicroStrategy's stock jumps 5% with Bitcoin profits and the company nearing entry into the Nasdaq index.

Shares of the largest company by Bitcoin holdings continued to rise during pre-market trading on Monday, as MicroStrategy, which describes itself as a Bitcoin network developer, benefited from the new record profits that Bitcoin has registered today. This has brought MicroStrategy's shares closer than ever to entering the heavyweight U.S. tech stock index, the Nasdaq 100.

Today’s morning trading saw Bitcoin reaching a new all-time high of $106,533, boosting the market value of MicroStrategy, whose Bitcoin holdings are its main asset, and pushing the company closer to becoming one of the top 100 companies by market capitalization on the Nasdaq index.

With the expected entry of MicroStrategy shares into the top 100 companies on the Nasdaq, the $25.7 trillion index, which includes the largest non-financial companies listed on the U.S. stock exchange, will be indirectly exposed to Bitcoin volatility through changes that may occur in the share price of MicroStrategy, which holds about $44 billion worth of Bitcoin, accounting for roughly 2% of the global supply of the largest digital currency in the world.

In terms of trading, Bitcoin's profits and the company's proximity to the Nasdaq index thresholds boosted MicroStrategy (NASDAQ: MSTR) shares during pre-market trading on Wall Street today, with the stock rising around 5% to record $426.58.