MSCI’s new rule is now in effect: companies that stockpile crypto are classified as “non-operating companies.” The new framework takes effect on November 30, and if Strategy fails the financial test, it’ll be kicked out of global indexes. JPMorgan estimates that its removal could trigger $2.8 billion in selling pressure, potentially reaching $8.8 billion if other indexes follow suit. Strategy fired back: “Bitcoin doesn’t need MSCI, and Strategy doesn’t need it either.” Big talk—but MSTR shares were already down nearly 4% after hours. Without the faucet of passive index buying, can its next round of stock issuance keep its $70 billion $BTC empire turning? Is a company that stockpiles crypto really a business? Sound off in the comments.

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