Stock Track | Defiance Daily Target 2X Long MSTR ETF Soars 12.73% Pre-Market on MicroStrategy's Nasdaq 100 Inclusion

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The Defiance Daily Target 2X Long MSTR ETF (MSTX) surged 12.73% in pre-market trading on Monday, following MicroStrategy's announcement that the software company will be included in the tech-heavy Nasdaq 100 index.

MicroStrategy, which holds a massive $44 billion worth of Bitcoin on its balance sheet, is set to join the prestigious index on December 23rd. This move is expected to fuel further buying in MicroStrategy's stock from funds aiming to replicate the Nasdaq 100's composition, potentially driving up the price and allowing MicroStrategy to purchase even more Bitcoin through equity and debt offerings.

Analysts believe MicroStrategy's inclusion could create a "looping cycle" that boosts the price of Bitcoin itself, as the company uses its inflated stock to acquire more of the cryptocurrency. With nearly $25.7 trillion tracking the Nasdaq 100, MicroStrategy's indirect Bitcoin exposure could significantly impact the crypto market.

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