Coinbase Global Inc. (Nasdaq: currency) officially joins the it’s & p 500s starting from May 19th. It will replace Discovery Financial Services (Nyse: DFS), which is acquired by Capital One Financial (NYSE: COF), an existing member of the index.
This is a great move for Coinbase and an even larger signal for Bitcoin. For a cryptocurrency company that is added to one of the most important indices in the United States shows that point this sector has arrived. It is no longer just the hype: it is becoming a real part of the traditional financial system.
“Thanks to all those who made it possible for a cryptocurrency company to join the first time for the first time in history,” Coinbase published on their X account.
To enter the’s & P 500, a company must meet some rigorous requirements. They need a market capitalization of at least $ 18 billion, have most of their actions held by the public, are profitable in the last four quarters and be listed in an US exchange. Coinbase controls all these boxes, with a market capitalization of over $ 40 billion and solid recent earnings.
Once added coinbase, each bottom that traces the S&P 500 will have to include it in their wallets. This means a greater demand for actions, which could increase the short -term price. But even more important, it brings more exposure and credibility to the entire cryptographic space.
“Congratulations Brian Armstrong for $ coins added to the S&P 500 index,” said the executive president of the 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 in S&P 500 makes Bitcoin exposure more accessible to traditional investors. It also helps to reduce the idea that Bitcoin and Crypto are just a risky bet.
And the numbers speak for themselves. Over the past 14 years, Bitcoin has overperformed the S&P 500 and gold with a huge margin. Since 2010, Bitcoin has increased the incredible 7,200,000%, compared to 306%of the 500s and 116%of Gold. Even when looking at shorter times, Bitcoin constantly beats both. For example, in the last year, Bitcoin has increased by 27%, while gold has increased by 37%El’s & P 500 has increased by only 5%. Over the past five years, Bitcoin has gained 1,138%, far exceeding 85%Gold and 92%of S&P 500.