When will MicroStrategy join the S&P 500? (Hint: not anytime soon)

MicroStrategy (Nasdaq: MSTR), now known as Strategy, failed to make it to the S&P 500 index after the rebalance on Sep. 5.

The Bitcoin treasury firm was among the firms that analysts expected to be finally included in the exclusive club, but the committee gave it a miss this time too.

Related: What is Crypto? Cryptocurrency explained

Committee decision to not include MicroStrategy

Eric Balchunas, the senior ETF analyst, had remarked that though the company qualifies, it is in an already overweight sector, and the S&P 500 selection committee has been known to hold back high-profile additions like Tesla (Nasdaq: TSLA).

As the news got out that Strategy failed to be added, Balchunas explained that it's ultimately a decision of a "secret committee" running an active fund.

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Crypto community reacts

As it happens, the crypto community reacted to the development with memes, and even Balchunas couldn't resist.

Bitwise Asset Management President Teddy Fusaro shared a meme showing exactly how a crypto trader would have been digging into TradFi.

Michael Saylor takes a dig

Co-founder and executive chairman Michael Saylor didn't forget to take a dig and shared how his firm generated a much better return than even Bitcoin and SPDR S&P 500 ETF (SPY).

On Sep. 8, the firm announced acquiring 1,955 BTC during Sep. 2-7. It held 638,460 BTC worth approximately $71.7 billion at the time of writing.

Will MicroStrategy join S&P 500?

The enterprise software-turned-crypto treasury firm is already the world's leading Bitcoin treasury firm.

If the company continues to qualify on all counts in December when the next rebalancing of the S&P 500 index takes place, there is a possibility of it being added to the exclusive list.

But it's important to underline Balchunas' assertion that it's ultimately a committee's decision and there are always a lot of factors at play.

This story was originally reported by TheStreet on Sep 8, 2025, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.

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