Crypto media outlets are pumping out speculation that Michael Saylor’s MicroStrategy (Nasdaq: MSTR) is a leading candidate for inclusion in the S&P 500, with an announcement expected Friday.
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The index is rebalanced quarterly; recent additions include Jack Dorsey’s Block in July. Other contenders this round include Robinhood and Applovin.
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MSTR was one of the best-performing stocks in 2024, with a market cap just under $98bn and holdings of 636,505 BTC valued at nearly $71bn.
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The company meets all S&P 500 criteria: US domicile, >$22.7bn market cap, sufficient liquidity, and listed shares.
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Bitcoin advocates call the potential inclusion “paradigm-shifting,” as it could force 401Ks, robo-advisors and pension funds to gain indirect exposure to bitcoin.
This article was written by Eamonn Sheridan at investinglive.com.
