Saylor’s Strategy rebuffed as S&P 500 sets ‘higher bar’ for crypto firms – DL News
- The S&P 500 denied including Strategy into its equity index last week.
- Strategy met all of the S&P 500’s various requirements.
- The rejection sets a “higher bar” for crypto companies, says analyst.
Last Friday, the S&P 500 slammed the door in Michael Saylor’s face when it denied Strategy’s inclusion into the world’s most prestigious equity index.
Now, JPMorgan analysts are saying it’s a clear signal that the committee won’t accept firms that are “effectively Bitcoin funds” masquerading as operating businesses.
“This rejection is a blow to not only MicroStrategy but also other corporate crypto treasuries that have proliferated in recent months,” JPMorgan analysts wrote in a note to investors on Wednesday, warning that…
