Michael Saylor, the prominent Bitcoin advocate and co-founder of the Bitcoin treasury company Strategy (MSTR), has publicly reacted to his company's rejection from the S&P 500 index. Saylor posted data indicating that Strategy's market performance has significantly outpaced the S&P 500 (SPY), suggesting that formal recognition is the only missing element for its inclusion.

The official decision regarding Strategy's S&P 500 inclusion was made on Friday, September 5th, resulting in a negative outcome for MSTR. Interestingly, another large company with direct ties to the crypto industry, the Robinhood platform, which facilitates investment in traditional stocks, crypto, and crypto-related products, was successfully added to the index.

Saylor's reaction included a tweet featuring an infographic that highlighted MSTR's substantial outperformance of the S&P 500, a feat he attributes to its robust Bitcoin strategy. Remarkably, the infographic also demonstrated that MSTR had even surpassed Bitcoin itself in terms of performance. The chart showed MSTR with a 92% surge, while SPY posted a 14% increase, and Bitcoin recorded 55% annualized growth in what was termed the “Bitcoin Standard Era Return.”

Following the news of the S&P 500 rejection, MSTR's shares experienced an immediate 2% drop in after-hours trading. Despite this setback, the company's official X account confirmed that Strategy remains committed to its course and will not deviate from its Bitcoin-centric path.

Strategy's failure to join the S&P 500 came despite meeting various quantitative criteria, including market capitalization, liquidity, and public float. As explained by Bloomberg's Eric Balchunas, the ultimate decision rests with a