The S&P 500 index is not including Michael Saylor’s Strategy — and other indexes could follow suit, JPMorgan said. - Getty Images The S&P 500’s refusal to include the company previously called MicroStrategy raises questions about the sustainability of the business model of corporate treasury investments in cryptocurrency. JPMorgan strategists led by Nikolaos Panigirtzoglou say the decision by S&P Dow Jones Indices last week not to promote the company that’s now called Strategy MSTR into the S&P 500 index ...