According to BlockBeats, on August 15, the asset management company Strive published a market commentary on Strategy, stating that Strategy, as the world's largest Bitcoin treasury company, is just one step away from joining the S&P 500 index. If this milestone is achieved, it will fundamentally solidify Bitcoin's position in American financial life. Strategy's market capitalization exceeds $100 billion, already surpassing the market cap threshold for the S&P 500. However, the inclusion criteria for the S&P 500 are not limited to market capitalization; they also require the company to be registered in the United States, listed on a major exchange, and to have achieved profitability in the past quarter and year. The last profitability requirement has always been a barrier for Strategy.
Recently, Strategy announced its second-quarter financial report, achieving profitability in the past 12 months, clearing the last obstacle, and is expected to be included in the S&P 500 as early as September. However, Strategy's inclusion is not guaranteed. In 2020, the S&P 500 rejected Tesla and chose the much smaller Etsy instead. The regulators did not provide a clear reason, but market analysts pointed out that Tesla's volatility might have been a concern, which presents the same dilemma for Strategy. Its five-year beta coefficient is 3.86, making it the most unstable company in the S&P 500, nearly twice the volatility of Tesla.
Regardless of whether Strategy can be included in the S&P 500 in September, one thing is clear: the leap of Bitcoin from a currency experiment to a blue-chip asset has already begun.
