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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.