MSTR fell 9.6%. BTC fell 0.8%.
What happened:
A stock-specific shock, not a Bitcoin sell-off.
MSCI adopted a rule for “non-operating companies.”
MSTR: US$151.29 → US$136.83.
How the test works:
More than 50% of assets must be operational.
If not, five criteria are assessed.
Failing at least 4 makes a company ineligible.
A May simulation flagged Strategy, Metaplanet, and Yellow Cake.
What has not yet been decided:
Strategy has not been officially excluded.
JPMorgan’s US$2.8 billion estimate is outdated.
Index funds hold just 3.1% of the shares.
Exclusion means selling shares, not BTC.
My take:
The real risk is difficulty raising funds to buy BTC.
Watching November 11 and access to financing.
Overreaction or revaluation?
This is not financial advice. Do your own research.
$BTC $MSTR $ARIA
#strategysharesfall9%onfriday
What happened:
A stock-specific shock, not a Bitcoin sell-off.
MSCI adopted a rule for “non-operating companies.”
MSTR: US$151.29 → US$136.83.
How the test works:
More than 50% of assets must be operational.
If not, five criteria are assessed.
Failing at least 4 makes a company ineligible.
A May simulation flagged Strategy, Metaplanet, and Yellow Cake.
What has not yet been decided:
Strategy has not been officially excluded.
JPMorgan’s US$2.8 billion estimate is outdated.
Index funds hold just 3.1% of the shares.
Exclusion means selling shares, not BTC.
My take:
The real risk is difficulty raising funds to buy BTC.
Watching November 11 and access to financing.
Overreaction or revaluation?
This is not financial advice. Do your own research.
$BTC $MSTR $ARIA
#strategysharesfall9%onfriday