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S&P 500’s snub of ‘Strategy’ (ex-MicroStrategy) may chill corporate crypto buyouts, JPMorgan says

The S&P 500’s decision to skip Strategy (ex-MicroStrategy) is more than a one-off. JPMorgan says it’s a policy signal: index gatekeepers are reluctant to include operating companies that behave like bitcoin vehicles. Expect fewer “crypto-by-acquisition” gambits and a tougher path for corporate bitcoin treasuries chasing index access.