Bitcoin promoter becomes blue chip stock, can MicroStrategy be included in the S&P 500 index?

As Bitcoin's price continues to rise, MicroStrategy Strategy (formerly MicroStrategy), the pioneer of Bitcoin reserve strategy, holds 592,345 Bitcoins valued at up to $63.8 billion. MicroStrategy's market value has reached $106.2 billion, rising to 93rd place among the largest listed companies in the United States. With the upcoming S&P 500 quarterly adjustment, will Strategy have a chance to be included? If it enters the S&P 500 index, Bitcoin will begin to "automatically permeate into all portfolios," including traditional 401k, retirement funds, and passive investment portfolios, potentially boosting MSTR's stock price. The S&P 500 index is a US stock market index compiled by Standard & Poor's, consisting of 500 large US listed companies, and is one of the most representative indices of the US stock market. The index uses market capitalization-weighted method, where each component stock's weight is proportional to its market value. To be included in the S&P 500 index, a stock must meet the following conditions: - Headquartered in the United States - Market value exceeding $18 billion (subject to market adjustments) - Positive profits for the most recent four quarters and the most recent quarter - Active stock trading, high liquidity, and most shares in public hands The S&P 500 index components are adjusted quarterly by the index committee under Standard & Poor's. Currently, Strategy's market value has reached $106.2 billion, ranking 93rd in US market capitalization, with active stock trading and high liquidity. However, due to the new accounting standard ASU 2023-08 adopted this year, the first quarter recognized digital asset losses of $5.91 billion (calculated at Bitcoin price of $82,444 at the end of the quarter), with profitability being the biggest obstacle to entering the index. Analyst Jeff Walton estimates that if Bitcoin's price closes above $95,240 by the end of June, it could bring significant book gains, thereby increasing its chances of entering the S&P 500, with a success probability of up to 94.2%. The three largest ETFs tracking the S&P 500 index currently include: - SPY (SPDR S&P 500 ETF Trust): Asset size of $611 billion - IVV (BlackRock's iShares Core S&P 500): Asset size of $566.9 billion - VOO (Vanguard S&P 500 ETF): Asset size of $686.5 billion With these three ETFs having a total market value of $1.86 trillion, even at the lowest weight of 0.01%, it could attract $180 million in capital inflow. MicroStrategy's Bitcoin holdings would also indirectly flow into traditional 401k, retirement funds, and passive investment portfolios. Risk Warning: Cryptocurrency investment carries high risks, and prices may fluctuate dramatically. You may lose all your principal. Please carefully assess the risks.