Financial analyst Jeff Walton says Strategy’s odds of S&P 500 eligibility hinge on Bitcoin’s ability to remain above $95,240.
Michael Saylor’s MicroStrategy (MSTR), which trades as Strategy, has a high chance of qualifying for the S&P 500 as long as Bitcoin doesn’t drop more than 10% before the end of the second quarter, an analyst says.
“I believe there is about a 91% chance of MSTR qualifying for the S&P 500 in Q2,” financial analyst Jeff Walton said in a video on Tuesday.
Walton explained that for this to happen, Bitcoin (BTC) must not fall below $95,240 before June 30. He explained that if it drops below that, Strategy, which has the largest Bitcoin holdings among public companies at 592,345 Bitcoin, will not have “have the earnings in Q2 be more than the last three quarters combined.”
