In a splash-inducing move, Coinbase has been added to the S&P 500, a milestone moment that signals the entry of the crypto universe into the mainstream.
Congratulations @Brian_Armstrong on $COIN being added to the S&P 500 Index. A major milestone for Coinbase and for Bitcoin.
— Michael Saylor (@saylor) May 12, 2025
S&P announced that Coinbase will replace Discover Financial Services in its premier index, effective prior to markets opening Monday, May 19. That’s right, Coinbase is now officially rubbing elbows with the big leagues.
And because this is Coinbase we’re talking about, they couldn’t resist taking a cheeky victory lap on X (formerly Twitter), posting a celebratory message that’s equal parts triumph and swagger.
As the saying goes…
— Coinbase 🛡️ (@coinbase) May 12, 2025
“First they ignore you.
Then they laugh at you.
Then they fight you.
Then they add you to the S&P 500.”
…or something like that.
Remember, not too long ago, Coinbase was duking it out with Ripple against the SEC's “regulation by enforcement” tactics under the Biden administration. Oh, how the tables have turned.
MicroStrategy’s Bitcoin Moves Are the Real Game Changer
Now, while Coinbase’s S&P 500 inclusion is a big deal, it’s MicroStrategy that’s making the bigger waves in the world of Bitcoin. Through May 1, the company had recorded an eye-popping $5.8 billion in year-to-date profit on its Bitcoin bets, and an eye-popping total of 568,840 BTC at an average price of $69,287. MicroStrategy's gigantic Bitcoin stash isn't just inflating its balance sheet, it's shaping the entire crypto universe.
Strategy has acquired 13,390 BTC for ~$1.34 billion at ~$99,856 per bitcoin and has achieved BTC Yield of 15.5% YTD 2025. As of 5/11/2025, we hodl 568,840 $BTC acquired for ~$39.41 billion at ~$69,287 per bitcoin. $MSTR $STRK $STRF https://t.co/oSXRMwiTkU
— Michael Saylor (@saylor) May 12, 2025
The real kicker here is how MicroStrategy is draining BTC from active circulation. The company is hoovering up 2,087 BTC per day, while Bitcoin miners are only producing 450 BTC daily. This has created a deflationary effect, driving Bitcoin’s annual inflation rate to an eye-popping -2.33%. In short, MicroStrategy is doing more than just holding Bitcoin, it’s shaping its economic future.
Coinbase is up a solid 10% in after-hours trading following the announcement, but don’t let that distract you from the bigger picture. The stock is still down 20% for the year, though. Still, the inclusion of Coinbase in the S&P 500 is more than just a win for the company; it’s a momentous step for the crypto industry as a whole, and MicroStrategy’s next move could trigger the next big rally in Bitcoin.
HODL Team
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