Strategy Inc., formerly known as MicroStrategy, has reported $14 billion in unrealized gains last quarter, theoretically meeting the profit criteria for inclusion in the S&P 500, according to Bloomberg. If included, passive funds tracking the index would need to purchase approximately 50 million shares, valued at around $16 billion at current prices, potentially leading to institutional passive holdings of its $70 billion Bitcoin reserves. While Strategy Inc. was added to the Nasdaq 100 at the end of 2024, the S&P 500 has stricter requirements regarding liquidity, market capitalization (minimum $22.7 billion), profit history, and industry balance. The final decision remains at the discretion of the committee.