The world's largest Bitcoin Treasury company, Strategy (Nazdak Code: MSTR, formerly MicroStrategy), was likely to join the Standard Poor 500 Index (S&P 500) at the earliest on Friday, 1 September, according to Lark Davis, a hot-bitcoin investor. Davis further noted that this would attract billions of dollars of “baby tide generation” finance, that is, from older investors, into MSTR and Bitcoin.
Strategy, led by Executive Chairman and co-founder Michael Saylor, currently holds 632,457 bitcoin on its balance sheet, valued at approximately $69 billion.
The Standard & Poor ' s 500 index is the list of the 500 largest listed companies in the United States. To be included in the index, companies are required to meet the following conditions:
- Headquarters in the United States
- At least 12 months of trading history on major US exchanges
- Market value exceeded $22.7 billion
- At least 50 per cent of shares are held by the public
- Over 250,000 shares per month over the past six months
- Profits achieved in the latest quarter
- The total profit for the last four quarters is positive.
A senior Wall Street official, Josh Mandell, who had accurately predicted that Bitcoin would reach $84,000 by March 2025, believed that Strategy had actually joined S&P 500, pending official announcement.