最新报道:MicroStrategy's bid to join the S&P 500 was rejected despite meeting eligibility, signaling growing caution toward companies acting as de facto bitcoin funds. JPMorgan analysts noted the decision may limit bitcoin's indirect inclusion in major indices and prompt other providers to reconsider crypto-heavy firms. Nasdaq now requires shareholder approval for stock issuance to buy crypto, as corporate crypto treasuries face weakening share prices and slowing fundraising. The sustainability of the bitcoin-treasury model is in question, with investors potentially favoring crypto firms with operational businesses over pure holding vehicles.