Michael Saylor’s MicroStrategy Inc. checks all the boxes for inclusion in the Nasdaq 100 Index, a development that would trigger purchases of the shares by the $451 billion worth of exchange-traded funds around the world that directly track the benchmark.

A meteoric rise in MicroStrategy's shares has made the bitcoin hoarder a likely candidate for the tech-heavy Nasdaq 100 index ahead of an annual reshuffle this week. The loss-making software company,