Some 40% of MicroStrategy's bitcoin position has been acquired in the past 40 days, wrote Bernstein analysts on Monday. Within the past month alone, MicroStrategy purchased more than 100,000 bitcoins for $10.5 billion, SEC filings show.

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,