📉 MSCI KICKS STRATEGY OUT OF ITS INDICES
Something that had been rumored for weeks has just been confirmed: MSCI has removed Strategy, Michael Saylor’s company (formerly MicroStrategy), from its indices. The decision is official as of today and takes effect at the close of trading on November 30.
MSCI is the firm that creates the indices tracked by major investment funds, and it decided that Strategy is no longer an operating company, but rather a fund in disguise, because almost all its value is in the roughly 850,000 $BTC it holds. Funds that track those indices will have to sell their shares: JPMorgan estimates around $2.8 billion in sales.
To me, this marks a turning point: holding Bitcoin on your balance sheet is no longer just a strategy; it can now also cost you your place in the major indices.
Do you think this will affect Bitcoin or just Strategy’s stock? #Bitcoin
Something that had been rumored for weeks has just been confirmed: MSCI has removed Strategy, Michael Saylor’s company (formerly MicroStrategy), from its indices. The decision is official as of today and takes effect at the close of trading on November 30.
MSCI is the firm that creates the indices tracked by major investment funds, and it decided that Strategy is no longer an operating company, but rather a fund in disguise, because almost all its value is in the roughly 850,000 $BTC it holds. Funds that track those indices will have to sell their shares: JPMorgan estimates around $2.8 billion in sales.
To me, this marks a turning point: holding Bitcoin on your balance sheet is no longer just a strategy; it can now also cost you your place in the major indices.
Do you think this will affect Bitcoin or just Strategy’s stock? #Bitcoin
