Strategy rides out Bitcoin crash, still on track for S&P 500 spot
Matrixport researchers report that Strategy, the world’s largest corporate holder of Bitcoin, is well-positioned for potential inclusion in the S&P 500 index in December 2025. Analysts believe that large-scale liquidations of Bitcoin holdings by Strategy to service debt are unlikely, despite recent crypto market corrections raising concerns over corporate Bitcoin treasury models. Although Strategy’s shares saw a decline from $474 to approximately $207, they are viewed as relatively cheap when compared to Bitcoin prices. This situation serves as a reminder to investors about the implications of timing and valuation in their investment decisions. Moreover, concerns remain around smaller digital asset treasuries, which have reported decreased market net asset values (mNAV), limiting their ability to acquire further Bitcoin. While smaller firms face pressures, Strategy’s executive chairman remains confident in the company's resilience to significant downturns in Bitcoin value, asserting that the company's structure is resilient to significant price fluctuations.
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