S&P 500 Rejects Strategy Despite Meeting Eligibility Criteria, JPMorgan Reports
TLDR
- Strategy (formerly MicroStrategy) was rejected from S&P 500 despite meeting technical criteria
- JPMorgan analysts warn this signals caution toward companies functioning as bitcoin funds
- Index committee’s decision affects not just Strategy but similar crypto treasury firms
- Other index providers might reconsider including crypto treasury companies
- Market shows signs of “fatigue” with share prices dropping and funding activity slowing
The S&P 500 index committee’s recent decision to reject Strategy (formerly MicroStrategy) from inclusion in the prestigious index has sent ripples through the cryptocurrency industry.
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