BitcoinTreasuries Survey Finds 50% Back MSTR for S&P 500

Strategy, the company formerly known as MicroStrategy, is once again in the spotlight. The firm is now the world’s largest corporate holder of Bitcoin, with a massive treasury of around 687,000 BTC worth tens of billions of dollars. Earlier this month alone, Strategy added more than 13,000 BTC in a $1.25 billion purchase. Now, a new community survey suggests many investors believe the company’s next big milestone could be joining the S&P 500.

About 50% of respondents in a BitcoinTreasuries.net poll believe that the S&P 500 will add Strategy (MSTR) in 2026. Even more striking, more than 92% believe it will eventually join the famous index at some point in the future. While this is only a community survey and not an official forecast, it shows how much attention Strategy continues to attract in both crypto and traditional finance circles.

A Bitcoin Giant in Corporate Clothing

Strategy rebranded from MicroStrategy in early 2025 and fully embraced its role as a Bitcoin-first company. Under executive chairman Michael Saylor, the firm has turned its balance sheet into a massive Bitcoin vault. With nearly 700,000 BTC, Strategy holds more Bitcoin than most ETFs and even some governments. The company now acts more like a leveraged Bitcoin vehicle than a traditional software business.

This approach has made Strategy one of the most talked-about stocks in the world. When Bitcoin rises, MSTR often moves even faster. When Bitcoin falls, the stock can drop hard too. That volatility is a big part of the debate around whether it belongs in the S&P 500.

Why Strategy Keeps Getting Snubbed

In 2025, Strategy met many of the technical rules for S&P 500 inclusion. Its market value was large enough. Its shares were liquid. New accounting rules also allowed Bitcoin gains to count toward profits. Yet the company was still passed over.

The main reason is how the S&P Dow Jones Indices committee views the business. Analysts say the committee sees Strategy less as a normal operating company and more like a Bitcoin investment fund or a leveraged crypto proxy. In simple terms, Strategy looks more like a Bitcoin ETF with debt than a steady business with predictable income. That makes index managers nervous, especially because Bitcoin can swing wildly in price.

What Would Happen If MSTR Gets In?

If Strategy ever joins the S&P 500, the impact could be huge. Trillions of dollars track the index. Passive funds would be forced to buy MSTR shares. That could mean billions of dollars in automatic inflows and a major boost to the stock. It would also send a powerful message that Bitcoin is now accepted as a serious corporate asset in mainstream finance. For many in the crypto world, that would be a historic moment.

What Comes Next

As of January 2026, Strategy is still not in the S&P 500. The stock had a rough 2025 and remains highly sensitive to Bitcoin price moves. Some analysts also warn about leverage, dilution and balance sheet risk. Still, community belief remains strong. With Bitcoin climbing again and corporate adoption growing, many investors feel Strategy’s story is far from over. Whether the S&P committee agrees may be one of the biggest finance questions of 2026.