On September 5, 2025, MicroStrategy was not included in the S&P 500 index, while Robinhood was added. Michael Saylor's reaction highlights the company's confidence in its strategy.
Michael Saylor’s Reaction to MicroStrategy's Exclusion
Michael Saylor responded to MicroStrategy's exclusion from the S&P 500 index via Twitter, accompanied by a chart. He noted that MSTR achieved a 92% annualized gain, compared to 14% for the S&P 500 and 55% for Bitcoin. Saylor emphasized that MicroStrategy's current Bitcoin strategy surpasses both the index and Bitcoin itself.
Fundamental Metrics of Robinhood and MicroStrategy
By traditional metrics, both companies met S&P 500 eligibility. As of early September 2025, MicroStrategy's market cap exceeded $92 billion with a positive GAAP income of $5.3 billion over the past year. Robinhood also had a market cap of around $88-90 billion but with a higher price-to-earnings ratio. The main differences lay in the business models and stability of the companies.
Experts' Views on Crypto-Treasury Stocks
Experts note that index decisions depend not only on quantitative metrics. Robinhood's inclusion indicates a warming of interest towards crypto-friendly fintech by the index while remaining cautious about companies that hold purely crypto assets. Despite the exclusion, many analysts remain optimistic about MicroStrategy's long-term prospects.
MicroStrategy's exclusion from the S&P 500 raises questions about selection criteria, while highlighting the differences in the business models of companies. Robinhood, with its more stable structure, was chosen, underscoring the unique requirements of the S&P committee.
