on December 22nd, Barrons reported that Michael Saylor, chairman of MicroStrategy, did not explicitly say whether the company might be included in the S&P 500 in a recent interview, but he said that given the optimistic outlook for Bitcoin, MicroStrategy may report quarterly net income of billions of dollars next year due to the increase in the value of Bitcoin holdings. The accounting rule changes that will take effect in 2025 may enable MicroStrategy to meet the profitability requirements for joining the S&P 500.

It is reported that MicroStrategy's traditional software business (its main business before it started buying a large amount of Bitcoin in 2020) is relatively small and may be valued at only about $1 billion. In addition, according to GAAP (Generally Accepted Accounting Principles) calculations, the business is in a loss-making state, which alone is difficult to meet the inclusion requirements of the S&P 500 index. The upcoming accounting rules will adjust the company's Bitcoin holdings from the current undervaluation to fair market value and may bring significant net income growth when Bitcoin prices rise. However, the S&P Global Index Committee decides on S&P 500 index members by invitation, reviewing profitability, market value, and other factors.