From Nasdaq:

In a bold claim, Kevin O’Leary predicts crypto will become the 12th sector of the S&P 500 in the next few years. The rise of Bitcoin has been meteoric, with five key reasons supporting its upward trajectory in 2024, including global adoption and the use of stablecoins like USDC.

Bitcoin’s political snowball effect includes El Salvador’s President Bukele making Bitcoin legal tender, leading to his landslide re-election. MicroStrategy’s success story showcases the potential for companies to invest in Bitcoin, with MSTR’s Bitcoin holdings generating $500 million in gains in one day.

The approval of Bitcoin ETFs by the SEC signals institutional adoption, with Fidelity allocating a percentage of its ETF products to crypto. With Bitcoin fast approaching $60,000, the market cap of the global cryptocurrency market stands at over $2 trillion, setting the stage for potential addition to the S&P 500.

On a different note, Zacks Investment Research highlights the growth potential in the semiconductor sector, projecting a rise from $452 billion in 2021 to $803 billion by 2028. They identify a top semiconductor stock with strong earnings growth and customer base expansion, poised for success in AI, ML, and IoT markets.



Read more at Nasdaq: Crypto’s Ascent: The Case for Becoming the S&P’s 12th Sector