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

By Medha Singh (Reuters) -MicroStrategy shares briefly surged on Monday before faltering to end nearly unchanged, after the software company and bitcoin stockpiler was selected to join the tech-heavy Nasdaq 100 index,

MicroStrategy announced Monday that it acquired another 15,350 bitcoins, bringing its total holdings to of the token to 439,000.

MicroStrategy Inc., the dot-com-era software maker turned leveraged Bitcoin proxy, bought an additional $1.5 billion of the cryptocurrency through the sale of stock.

MicroStrategy shares rose about 3% on Monday as the software company and bitcoin buyer was set to join the tech-heavy Nasdaq 100 index, further brightening the prospects of the stock. The $25.7 trillion index that houses the largest non-financial companies will now gain indirect exposure to bitcoin via MicroStrategy,

Key Takeaways Palantir, MicroStrategy, and Axon Enterprise joined the Nasdaq 100 index on Monday. The index contains the 100 largest non-financial sector companies in the Nasdaq Composite Index and is reconstituted annually.

Shares of the Virginia-based company, which owns about 2% of all bitcoin, has outperformed even Nvidia over the last five years.