Synopsis- Strategy, formerly MicroStrategy, has qualified for potential inclusion in the S&P 500 index after reporting a record-breaking second quarter in 2025. The company posted $14 billion in operating income and $10 billion in net income, marking one of its most profitable quarters.
This milestone could lead to a landmark decision expected on Friday, September 5, with inclusion changes taking effect September 19. If admitted, Strategy would be the first Bitcoin-treasury company in the prestigious benchmark, signaling a major step for digital assets in mainstream finance.
Strong Financial Performance Paves the Way
In Q2 2025, Strategy reported $14 billion in operating income and $10 billion in net income, translating to $32.6 in diluted earnings per share. Quarterly revenue rose marginally by 2.7% year-over-year to $114.5 million, supported by a 70% surge in subscription services. These figures represent a dramatic turnaround, fueled by new fair-value accounting standards allowing unrealised Bitcoin gains to boost reported earnings. This change reversed prior losses caused by Bitcoin impairment charges, transforming the company’s financial outlook as Bitcoin traded above $100,000 during the period.
As of June 30, 2025, Strategy held 597,325 Bitcoin, earning a 19.7% year-to-date Bitcoin yield, a key performance indicator showing Bitcoin growth relative to diluted shares outstanding. This substantial digital asset reserve significantly contributes to the company’s profits. With Bitcoin prices strengthening, Strategy’s unrealised gains rocketed, substantially improving its balance sheet. Management raised full-year 2025 guidance to $34 billion in operating income, $24 billion in net income, and an impressive $80 in diluted earnings per share, based on an assumed Bitcoin price of $150,000 by year-end.
Meeting All S&P 500 Criteria
Strategy satisfies all stringent S&P 500 requirements, including a U.S. listing on Nasdaq, a market capitalisation well above the $8.2 billion threshold, daily trading volumes exceeding 250,000 shares, and a public float greater than 50%. Most importantly, the company reported positive earnings in both the latest quarter and over the trailing twelve-month period. These achievements position Strategy as fully eligible for inclusion. However, the S&P Dow Jones Indices committee holds discretion on final approvals, with the critical decision anticipated during the September 2025 rebalance.
What Inclusion Means for Strategy and Bitcoin
If included, Strategy will become the first Bitcoin-treasury company in the S&P 500, a historic milestone for integrating digital assets into traditional financial markets. Inclusion typically triggers significant institutional investment inflows, as index funds and ETFs managing trillions of dollars buy shares to mirror the index. Estimates suggest passive inflows between $7.7 billion and $10 billion could follow Strategy’s addition, potentially boosting both the company’s stock and Bitcoin’s value. This move reflects growing institutional acceptance of Bitcoin could entice more crypto-adjacent firms to pursue mainstream financial recognition.
The announcement set for September 5, 2025, will be closely watched by investors and market participants. The changes will take effect on September 19, marking a new chapter for Strategy and digital assets in the equity marketplace. Still, the final call rests with the committee, and Bitcoin’s inherent price volatility remains a risk factor affecting Strategy’s earnings and stock performance.
Written By Fazal Ul Vahab C H
