Saylor’s Strategy tipped for S&P 500 inclusion after Q3 earnings: 10X Research
10X Research suggests MicroStrategy has a 70% chance of S&P 500 inclusion following profitable Q3 earnings.Summary
Crypto market intelligence firm 10X Research estimates that MicroStrategy (referred to as 'Strategy' in the text) has a 60%–70% probability of being added to the S&P 500 index, effective December 19, contingent upon reporting a profitable third quarter on October 30. This profitability is expected to stem from an estimated $3.8 billion gain due to fair-value Bitcoin accounting. The report views the earnings release as an "obvious catalyst" despite subdued investor sentiment and a slowdown in MicroStrategy's Bitcoin purchases, which dropped 78% in October compared to September. This prediction comes amid broader pressure on Digital Asset Treasuries (DATs), many of which have seen their market Net Asset Value (mNAV) ratio fall below 1, hindering their ability to raise capital by issuing new shares to buy more crypto. 10X Research suggests that despite the recent market correction and the unwinding of the NAV premium, this point in the cycle may signal the return of liquidity and potential for significant upward moves. Separately, MicroStrategy received a "B-" speculative credit rating from S&P Global Ratings, marking the first S&P assessment for a Bitcoin-treasury-focused company.
(Source：Cointelegraph)