S&P 500 companies will hold bitcoin by end of 2021, majority of The Block’s Outlook Survey respondents say

In September, the correlation between the S&P 500 index and bitcoin was near an all-time high. Now, investors believe S&P500 constituent companies will have bitcoin on their balance sheets by the end of next year, according to The Block's annual outlook survey.

Out of the 44 participants in the survey, 51.4% said between five and nine S&P 500 companies will have bitcoin on their balance sheets by the end of 2021. About 16% were more optimistic, saying 10 or more companies will hold bitcoin.

Roughly a third, or 29.7%, said one to four of such companies will hold bitcoin, and only 2.7% said one or fewer companies will hold bitcoin. There are currently zero S&P 500 companies that hold bitcoin on their balance sheet. Square, which could be considered for S&P500 inclusion next year, purchased $50M worth of bitcoin in October.

THE SCOOP

Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

The S&P 500 question and others can be found in The Block Research 2021 Digital Asset Outlook Report.

 


This brief updated the number of survey participants to n = 44

About Author

MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.