Coinbase Global Inc. (Nasdaq: Coin) is officially union The S&P 500 as of May 19. Discover Financial Services (NYSE: DFS) will replace, which is being acquired by Capital One Financial (NYSE: COF), an existing member of the index.
This is a great movement for coinbase and an even greater signal for Bitcoin. To add a cryptographic company to one of the most important indices in the US. It is no longer just exaggerating, but is becoming a real part of the traditional financial system.
“Thanks to all who made it possible for a cryptographic company to join S&P 500 for the first time in history,” Coinbase aware In your x account
To enter the S&P 500, a company must meet some strict requirements. They need a market capitalization of at least $ 18 billion, they have most of their shares held by the public, be profitable in the last four quarters and appear in an exchange of USA. UU. Coinbase verifies all these boxes, with a market limit of more than $ 40 billion and solid recent earnings.
Once coinbase is added, each background that tracks the S&P 500 must include it in its wallets. That means more demand for shares, which could raise the price in the short term. But even more important, it provides more exposure and credibility to the entire cryptographic space.
“Congratulations to Brian Armstrong for $ coins added to the S&P 500 index”, saying Executive President of Strategy Michael Saylor. “An important milestone for Coinbase and Bitcoin.”
Now let’s talk about Bitcoin. Coinbase is one of the best platforms that people use to buy and sell bitcoin. Having it in the S&P 500 makes Bitcoin exposure more accessible to traditional investors. It also helps reduce the idea that Bitcoin and Crypto are just a risky bet.
And the numbers speak for themselves. In the last 14 years, Bitcoin has surpassed the S&P 500 and gold by a great margin. Since 2010, Bitcoin has increased an amazing 7,200,000%, compared to 306%of S&P 500 and 116%of gold. Even when you look at the shortest deadlines, Bitcoin consistently exceeds both. For example, in the last year, Bitcoin has increased by 27%, while gold has increased by 37%, and S&P 500 has only increased by 5%. In the last five years, Bitcoin has won 1,138%, far exceeding 85%Gold and 92%of S&P 500.
