Michael Saylor Addresses Strategy’s Rejection from S&P 500 Index
Michael Saylor, Chairman of Strategy Inc (NASDAQ: MSTR), commented on the company's rejection from the S&P 500.
Strategy's Focus on Bitcoin Amid S&P 500 Rejection
- Strategy was excluded from S&P 500 on September 5 despite significant Bitcoin holdings.
- Saylor highlighted that MSTR shares have outperformed both S&P 500 and Bitcoin.
- MSTR increased by 92%, while S&P 500 rose by 14% and Bitcoin had a 55% annual growth rate.
- Following the news, MSTR experienced a 2% decline, closing at $335.87.
- Strategy continues its Bitcoin acquisition strategy, recently purchasing 4,048 BTC for $449.3 million.
- Total Bitcoin holdings now amount to 636,505 BTC, valued over $70.5 billion.
- Current Bitcoin price is $110,784.93, with a 1.39% dip in the last 24 hours.
Robinhood Joins S&P 500, Sparks Debate
- Robinhood Markets Inc (NASDAQ: HOOD) was added to the S&P 500 instead of Strategy.
- Robinhood allows investments in traditional stocks and cryptocurrencies.
- This decision has raised questions about the S&P 500 selection criteria.
- Robinhood will replace Caesars Entertainment in the index by September 22.