Based on ApeWisdom.io, MicroStrategy (NASDAQ:MSTR) has yet again topped the list of Reddit's most-followed stocks. Reflecting heightened retail investor interest following two noteworthy events, the company attracted 291 mentions and 2,008 up votes in the last 24 hours. Monday premarket trading for MicroStrategy increased over 3% on Nasdaq's announcement of inclusion on the Nasdaq-100 index. The action is expected to generate passive inflows into the stock as funds monitoring the index change their ownership.

• Warning! GuruFocus has detected 8 Warning Signs with MSTR.

Every year, the Nasdaq-100 rebalances choosing companies depending on market capitalization, liquidity, and free float criteria. Separately, the corporation disclosed its total Bitcoin(BTC-USD) holdings to 439,000 BTC after revealing its purchase of 15,350 Bitcoin for $1.5 billion at an average price of $100,386 per coin.

The founding and chairman of MicroStrategy, Michael Saylor verified the purchase on X (previously Twitter). Monday's quick surge in Bitcoin over $106,000 followed by a downturn highlights MicroStrategy's strategic concentration on cryptocurrency investments. Being the most followed stock on Reddit, the company's popularity among retail investors emphasizes its function as a major proxy for Bitcoin exposure.

This article first appeared on GuruFocus.