MicroStrategy shares jumped over 6% in pre-market trading as cryptocurrencies rally, fueled by Bitcoin’s rise to a new all-time high.

The increase in MicroStrategy stock is also linked to the announcement that it will be included in the Nasdaq-100 index, a significant event for the company, which is the largest corporate holder of Bitcoin (BTC).

Although MSTR stock is still trading below its recent peak of over $543, the pre-market spike on December 16 has pushed shares above $430. With the Nasdaq 100 listing on the horizon, sentiment surrounding this Bitcoin-focused business intelligence and software firm is exceptionally optimistic.

Nasdaq announced last Friday that MicroStrategy will be included in the Nasdaq-100 index starting December 23. The buying pressure accompanying this listing—often the result of funds purchasing the new component—could spur further price increases for MicroStrategy.

Over the past year, MSTR has surged as rising BTC prices have driven momentum in crypto stocks. MicroStrategy, a company that continues to advocate for Bitcoin as a corporate treasury for publicly traded firms, first added the cryptocurrency to its balance sheet in 2020.

Since that time, the company, led by Michael Saylor, has accumulated an impressive 423,650 BTC at an estimated cost of $25.6 billion. The average acquisition cost for its total Bitcoin holdings is $60,324 per coin, which would be valued at about $42.3 billion with Bitcoin valued above $100k.

Significantly, the benchmark cryptocurrency has just reached a new all-time high at over $106,000, aided by supportive remarks from President-elect Donald Trump that have bolstered bullish sentiments.

This year, MicroStrategy’s stock has soared more than 350%. Over the past four years, MSTR has outpaced the S&P 500, gold, real estate, and bonds. Its annualized return is 124%, compared to Bitcoin’s 64%, the S&P 500’s 15%, and real estate’s 10%.

During this timeframe, as of December 13, the safe-haven asset gold posted an annualized return of just 7%, while bonds reported a -5% return. Founder and Chairman Michael Saylor, who views Bitcoin as ‘digital property’, shared this remarkable performance on X.

MicroStrategy’s Bitcoin strategy has analysts optimistic about its potential to maintain its competitive edge in the market. The addition of MSTR to the Nasdaq-100 index has prompted speculation that it could soon join the S&P 500 as well.

As of December 13, MSTR closed at $408, with the dynamic stock trading above $431 at the time this article was written.