Bitcoin may soon be added to the S&P 500 through inclusion of MicroStrategy, positive.

MicroStrategy may soon be included in the S&P 500, indirectly making Bitcoin an index asset. The company cleared the final hurdle for qualification, with an estimated $11 billion net profit over the past 12 months. Analysts speculate on the impact of MicroStrategy’s Bitcoin accumulation model on the committee’s decision.

While MicroStrategy has met the criteria for S&P 500 inclusion, the final decision rests with the committee. Market watchers will have to wait until September to know if the firm will be included. If selected, MicroStrategy would become the second cryptocurrency-related company to join the index this year.

Inclusion in the S&P 500 would solidify Bitcoin’s mainstream legitimacy. MicroStrategy stock is trading at $396 pre-market, with a market capitalization of $113 billion. The company currently holds 597,325 BTC worth nearly $64 billion, representing nearly 3% of the entire asset supply.

Read more at Yahoo Finance: Is Bitcoin About to Enter the S&P 500? MicroStrategy Now Qualifies For Inclusion, Analyst Says