- Bitcoin’s breakout coincided with MSTR’s inclusion in the Nasdaq-100, triggering a 5x rally in MSTR stock.
- Could S&P 500 inclusion replicate (or even exceed) the Nasdaq effect?
Back in December 2024, when Strategy (formerly MicroStrategy) joined the Nasdaq-100, the stock took off, rallying about 5x as Bitcoin [BTC] pushed past $100k. That run-up gave the company more fuel to stack even more BTC.
Now, with speculation building around a potential S&P500 inclusion, investors are asking: Could this be the next structural catalyst for MSTR, and by extension, another wave of upside for Bitcoin itself?
How MSTR’s index story keeps shaping Bitcoin’s path
It’s been five years since Strategy started stacking Bitcoin, but it wasn’t until the “Trump pump” that the company really stepped into the spotlight as BTC’s unofficial champion.
Between November and December 2024 alone, MSTR executed eight strategic buys totaling 194,000 BTC, fueling a parabolic rise in its stock to an all-time high of $543 by late November.
In fact, despite a 50% drawdown in Q1, Strategy maintained aggressive accumulation, averaging three BTC purchases per month.
As of now, the company holds 592,345 BTC, with unrealized profits reaching approximately $21.3 billion, accounting for 2.8% of Bitcoin’s 21 million capped supply.
Source: BitGo
According to AMBCrypto, none of this would’ve played out the same without MSTR’s Nasdaq-100 listing back in late December 2024.
That move gave Strategy more exposure, and gave Bitcoin a serious push into the corporate spotlight.
Fast-forward to today, and you can see the ripple effect: The number of public companies holding Bitcoin has more than doubled over the past year, now hitting 151.
With S&P500 in sight, is MSTR setting up for round two?
The Nasdaq-100 is packed with tech names.
The S&P500? It’s a whole different beast, and way more influential. It tracks 500 of the biggest U.S. companies across every major sector, think energy, healthcare, finance, and more.
Now contrast that with the “Magnificent Seven.” Despite their dominance in tech, none of them have integrated Bitcoin into their balance sheets. In fact, shareholder proposals to do so have been consistently rejected.
This is where Strategy’s potential inclusion in the S&P500 becomes a structural outlier. If it enters the S&P500, it would be the first “Bitcoin-centric” balance sheet to be represented in the index.
And the market’s paying attention.
Social chatter around MSTR just hit its highest level in three months, showing that the hype isn’t just about the stock. Instead, it’s about what it could mean for Bitcoin’s place in the big leagues.
Source: X
With MSTR outperforming top-tier assets on a yearly basis, sitting on massive unrealized gains, and holding one of the largest BTC stashes out there, it’s setting the tone.
That 151-count of public companies holding Bitcoin? It might just be the beginning. Another high-profile listing could be the spark that pushes Bitcoin even deeper into the corporate mainstream.
