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MicroStrategy Unlikely to Be Included in S&P 500 Soon
The cryptocurrency market has been abuzz with rumors and speculations about the potential inclusion of Bitcoin-related stocks into major indices. In light of recent events, it seems unlikely that MicroStrategy will join the prestigious S&P 500 any time soon.
For those who may not be aware, the S&P 500 is an elite stock index comprising the top-performing companies in the US market. The selection process is rigorous and transparent, with specific criteria that must be met before a company can be included.
In the world of cryptocurrency, MicroStrategy is well-known as the largest corporate holder of Bitcoin, having amassed over $5 billion worth of the digital asset. However, despite this significant stake, it seems unlikely that they will receive an invitation to join the S&P 500 anytime soon.
As previously reported by CryptoComes and other fintech media outlets, inclusion in the prestigious index is not a straightforward process. According to a prominent ETF expert, Eric Balchunas of ARK Investment Management, there is no guarantee that MicroStrategy will be included even if it continues to meet certain criteria for S&P 500 eligibility.
The analyst emphasized that the committee, which has been criticized for its opaque criteria, may still choose to block a stock from inclusion if they deem fit. In other words, even if MicroStrategy satisfies all the necessary conditions, there is no guarantee it will be included in the index.
This raises concerns among crypto enthusiasts and investors who have been anticipating the entry of Bitcoin-related stocks into major indices. While some may argue that this development would increase mainstream adoption and legitimacy for cryptocurrencies, others believe it could lead to increased scrutiny and regulation.
It is worth noting that MicroStrategy has been added to the tech-heavy Nasdaq-100 index earlier this year, a move that sparked heated debate within the cryptocurrency community.
In related news, Bitwise Asset Management recently predicted that Coinbase could be included in the S&P 500 as early as next year.
Source: u.today
