BitcoinTreasuries Survey Finds 50% Back MSTR for S&P 500

A recent survey by BitcoinTreasuries shows 50% of respondents backing MicroStrategy (MSTR) for inclusion in the S&P 500 index. The firm's aggressive Bitcoin purchasing strategy has made it a focal point in the institutional Bitcoin space. Analysts suggest that MSTR's treasury model could gain broader recognition through index inclusion.

Institutional demand for Bitcoin has risen sharply, with net inflows into Bitcoin ETFs and ETPs exceeding $750 million in recent days. This aligns with a 7% price increase in Bitcoin, pushing it above $97,000. The move has also led to nearly $400 million in short liquidations over the past 24 hours.

TD Cowen recently trimmed its price target for MSTR to $440 from $500. The adjustment reflects shifting institutional dynamics and the near-term impact of Strategy's Bitcoin purchasing strategy. Despite the lower target, the firm maintains a 'buy' rating on the stock.

Why Did This Happen?

MicroStrategy's treasury model has drawn institutional interest by using corporate capital to accumulate Bitcoin. This strategy has been supported by regulatory clarity and growing ETF adoption. TD Cowen analysts note that the firm "moved aggressively to take advantage of what they expect would be a temporary depression in the price of Bitcoin."

The BitcoinTreasuries survey highlights a growing consensus among institutional investors. A significant portion of respondents believe MSTR's model could serve as a blueprint for companies seeking to diversify balance sheets with Bitcoin. This reflects broader institutional adoption of digital assets as part of corporate treasury strategies.

How Did Markets React?

Bitcoin's recent price surge has triggered significant short liquidations. Over $360 million in BTC shorts were liquidated in the 24 hours following the price jump to $97,000. This marks one of the largest short liquidation events since October 2024.

MicroStrategy's stock has shown volatility alongside Bitcoin's movements. Despite the price target cut, TD Cowen analysts argue that the firm remains "attractive for those looking to create Bitcoin exposure." MSTR's share price has traded near $270 as of January 15, 2026.

What Are Analysts Watching Next?

Analysts are closely monitoring how institutional adoption of Bitcoin evolves. The growth of regulated spot ETFs and deeper derivatives markets are seen as key indicators of Bitcoin's maturation as an asset class. Vincent Liu of Kronos Research suggests that Bitcoin's integration into traditional financial systems could reduce short-term volatility.

Regulatory developments also remain a key concern. Manhattan District Attorney Alvin Bragg has urged lawmakers to criminalize unlicensed crypto operations, signaling potential policy shifts in 2026. Meanwhile, Ripple's recent licensing activity in Luxembourg highlights ongoing global regulatory adjustments.

Bitcoin's institutional profile has also been boosted by record inflows into ETFs. These products have added nearly $750 million in inflows in the past week, reflecting a growing appetite for regulated Bitcoin exposure. Analysts suggest this trend could continue as more companies explore Bitcoin treasury strategies.