No, MSCI has not excluded Strategy from its indices. On 15/10 at 20:48 UTC, it published the results of its consultation on “non-operating” companies. The final list of affected names will be released on 11/11.
What the MSCI announcement says: a company that fails the operational-assets screen becomes ineligible if it is flagged on at least 4 of the 5 financial ratios. An existing constituent is removed only if it fails in each of the two most recent annual reporting periods. The change takes effect at the close on 30/11. A detail that has received little attention: MSCI is ending its interim measures from October 2025, including the freeze on increases in share counts for companies holding 50% or more of their assets in crypto.
According to The Block, the May simulation flagged Strategy, Metaplanet and Yellow Cake, and SharpLink (with an $ETH treasury) could also be affected. Strategy had called the proposal “discriminatory.”
As for the market, the announcement came after the US close. MSTR finished 15/10 at $151.29 (+5.6%) and was trading around $146 in pre-market on 16/10 at 12:50 UTC (Yahoo Finance), down about 3.5%. $BTC was holding around $82,100 on Binance.
My take: the risk is real, but the date is set. Before 11/11, saying that exclusion is confirmed is false.
Two possible outcomes. If Strategy is on the list, funds tracking MSCI will have to reduce their holdings before 30/11, and the pressure would fall mainly on MSTR shares rather than BTC. If it passes the screen thanks to the buffer across two fiscal years, the end of the share-count freeze becomes an advantage again for its capital raises.
Would an MSCI index removal really slow Strategy’s BTC purchases, or is this mostly an issue for the stock?
Sources: MSCI (15/10 announcement), The Block, Yahoo Finance, Binance.
#MSCI #Strategy #Bitcoin
What the MSCI announcement says: a company that fails the operational-assets screen becomes ineligible if it is flagged on at least 4 of the 5 financial ratios. An existing constituent is removed only if it fails in each of the two most recent annual reporting periods. The change takes effect at the close on 30/11. A detail that has received little attention: MSCI is ending its interim measures from October 2025, including the freeze on increases in share counts for companies holding 50% or more of their assets in crypto.
According to The Block, the May simulation flagged Strategy, Metaplanet and Yellow Cake, and SharpLink (with an $ETH treasury) could also be affected. Strategy had called the proposal “discriminatory.”
As for the market, the announcement came after the US close. MSTR finished 15/10 at $151.29 (+5.6%) and was trading around $146 in pre-market on 16/10 at 12:50 UTC (Yahoo Finance), down about 3.5%. $BTC was holding around $82,100 on Binance.
My take: the risk is real, but the date is set. Before 11/11, saying that exclusion is confirmed is false.
Two possible outcomes. If Strategy is on the list, funds tracking MSCI will have to reduce their holdings before 30/11, and the pressure would fall mainly on MSTR shares rather than BTC. If it passes the screen thanks to the buffer across two fiscal years, the end of the share-count freeze becomes an advantage again for its capital raises.
Would an MSCI index removal really slow Strategy’s BTC purchases, or is this mostly an issue for the stock?
Sources: MSCI (15/10 announcement), The Block, Yahoo Finance, Binance.
#MSCI #Strategy #Bitcoin