Strategy co-founder Michael Saylor has congratulated Coinbase on its inclusion in the S&P 500 index.
“A major milestone for Coinbase and for Bitcoin,” Saylor said on the X social media network.
Coinbase has become the first cryptocurrency company to join the flagship index with a combined market cap of roughly $50 trillion.
Katie Haun, CEO and founder of Haun Ventures, has also commented on the significance of the milestone.
“The S&P 500 is one of the most widely followed benchmarks in the world. Having a crypto-native company represented at that level is a big moment for the industry,” Haun said.
As noted by VanEck’s Matthew Sigel, the S&P 500 index tends to act as the ultimate magnet for passive flows. He has estimated that index funds will be the buyers of at least $10 billion worth of Bitcoin.
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