Strategy co-founder Michael Saylor congratulated Coinbase on being included in the S&P 500 index.
“A big milestone for Coinbase and Bitcoin,” Saylor said on the X Social Media Network.
Coinbase became the first cryptocurrency company to join the flagship index with a market capitalization of around $50 trillion.
Katie Haun, CEO and founder of Haun Ventures, also commented on the importance of the milestone.
“The S&P 500 is one of the world’s most widely held benchmarks. Having a company from a crypto industry that is represented at that level is a huge moment,” Haun said.
As Vaneck’s Matthew Sigel pointed out, the S&P 500 index tends to act as the ultimate magnet for passive flow. He estimates that index funds will be buyers of at least $10 billion worth of Bitcoin.
