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MicroStrategy’s Bitcoin Haul Stokes Speculation of S&P 500 Inclusion

Analysts say the firm now appears to meet S&P criteria, though any move rests with the index committee.

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Overview

  • MicroStrategy disclosed buying 4,048 BTC for $449 million between Aug. 26 and Sept. 1, and its shares rose 1.44% to $339.24 after the update.
  • The company now reports 636,505 BTC on its balance sheet, roughly $70 billion in value, and a market capitalization near $96.8 billion.
  • Market cap and liquidity screens exceed S&P 500 thresholds, and a $14 billion unrealized gain last quarter satisfied profitability tests in theory, according to Bloomberg reporting.
  • Speculation on social media points to a possible announcement as soon as Sept. 5, though no decision has been confirmed and the committee has broad discretion.
  • Stephens estimates passive index trackers would need to buy nearly 50 million shares worth about $16 billion if the stock is added, with Robinhood and AppLovin also cited as contenders.