S&P kicked $BTC out, and I think it’s a good thing

Lying on the sofa, I scroll on my phone. I saw a piece of news—S&P Dow Jones and Pantera Capital have put together a digital asset index, the kind specifically for institutions.

I stared at it for two rounds to make sure I wasn’t reading it wrong: the index has kicked Bitcoin ($BTC ) out.

It’s not that I don’t respect Bitcoin—it’s that they never planned to include it in the first place. There’s only one entry criterion—you have to have revenue, you have to make money. Not money “made” by speculation, but real money: there are actual users and actual payers. The protocol has to have positive revenue, and the income has to be distributable to token holders—like buybacks, staking rewards, and so on. It’s the same logic as how the S&P 500 picks constituent stocks: you need profits; just going up well isn’t enough.
$BTC ‌#夏日创作营