Michael Saylor, the renowned Bitcoin advocate and the co-founder of the Bitcoin treasury company Strategy, has issued a tweet showing his reaction to the rejection of his company from being included in the S&P 500 index.
He has posted data that shows that the only thing Strategy needs to be part of S&P 500 is merely a formal recognition, basically, since MSTR has already left SPY lying in the dust in terms of market performance.
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Saylor reacts to Strategy’s stunning SPY rejection
On Friday, Sept. 5, the official decision was made on whether or not to add Strategy to the S&P 500 index. The decision was negative, while another large company, also directly related to crypto, but through trading and investment, was included in it — the Robinhood platform, which allows retail users to invest in both traditional stocks and crypto as well as crypto-related products.
Saylor reacted to this decision by posting a tweet with an infographic showing that MSTR has long left the S&P 500 (SPY) behind thanks to its Bitcoin strategy. What is even more curious and notable — the infographic shows that MSTR has outperformed Bitcoin itself, too. MSTR shows a 92% surge on the chart, while SPY lags with a 14% increase, and Bitcoin shows 55% annualized growth in terms of “Bitcoin Standard Era Return.”
As the rejection from the S&P 500 inclusion news made its way into news reports, MSTR immediately dropped 2%. However, the official X account of the company tweeted that despite this unfortunate event, Strategy will certainly maintain its course and will not be deterred from the Bitcoin path.