Strategy, formerly known as MicroStrategy, is poised to make history as the first crypto-focused company to secure a spot in the S&P 500 Index. This milestone could unfold as early as September, following a period in which the company delivered one of its strongest financial quarters to date. Recent accounting rule changes allowed Strategy to recognize significant unrealized gains on its substantial Bitcoin holdings, reversing previous impairment losses and ensuring compliance with the S&P 500’s profitability requirements.

In the second quarter of 2025, Strategy reported $114.5 million in revenue and posted $10 billion in net income. These robust results, along with a market capitalization well above the necessary threshold, high trading volumes, and a large public float, mean the company now meets every eligibility criterion for S&P 500 inclusion. The next rebalancing announcement is expected soon, with potential implementation by mid-September.

Strategy’s candidacy represents a landmark moment for the integration of digital assets into mainstream financial markets. Should the company be added to the S&P 500, it would join Coinbase and Block as one of just three major crypto-related firms in the benchmark index. The move could trigger billions of dollars in inflows from index funds and ETFs, further elevating both Strategy’s profile and Bitcoin’s prominence in traditional finance.

While analysts are optimistic about Strategy’s inclusion, the final decision rests with the S&P Dow Jones Indices committee, which retains discretion based on current market conditions and sector balance. Nevertheless, this development underscores the growing relationship between cryptocurrency and the broader financial ecosystem, marking yet another step toward the mainstream acceptance of Bitcoin and blockchain-driven business models.