Bitcoin (BTC) has been on an upward trend since October, benefitting various investors, with MicroStrategy receiving the most significant boost. Given the company’s robust support for BTC through ongoing purchases, it is now set to be under consideration for inclusion in the S&P 500 Index, highlighting its growing market prominence.
With a substantial holding of around 190,000 BTC tokens valued at nearly $10 billion, MicroStrategy has reached a market capitalization of $12 billion. This considerable investment in BTC has positioned the company as a potential candidate for inclusion in the S&P 500, a prestigious index of America’s top 500 publicly-traded firms.
In order to meet the criteria for S&P 500 listing, a company must have a market capitalization of at least $15.8 billion. While MicroStrategy is gradually approaching this threshold through its consistent Bitcoin investments, it will also need to meet other criteria, such as liquidity thresholds and a track record of sustained profitability.
The potential for MicroStrategy’s inclusion in the S&P 500 is closely linked to the performance of Bitcoin’s price. If BTC continues its upward trajectory and surpasses the $52,985 range high, there is a strong possibility that it could retest its all-time high, boosting confidence in the digital asset and furthering its adoption across various portfolios.
MicroStrategy CEO Michael Saylor’s commitment to Bitcoin is evident as he stated, “I’m gonna be buying the top forever,” highlighting his belief in Bitcoin as the strongest asset and an exit strategy. This unwavering support for Bitcoin reinforces the company’s position in the crypto industry.
In terms of Bitcoin’s price outlook, indicators suggest a potential downward movement, with key support levels to watch. However, if the bulls strengthen, Bitcoin could break out of its current range and aim for higher price targets. This analysis provides valuable insights for investors and stakeholders in the crypto and NFT field, highlighting the interconnectedness of Bitcoin’s price movements, MicroStrategy’s investment strategy, and the broader implications for the crypto industry.
