Saylor’s Strategy rebuffed as S&P 500 sets ‘higher bar’ for crypto firms

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 Wedn ...