The list was finalized this morning: Strategy really was kicked out of MSCI.
Under the new rules, six companies were cut this time. Strategy was removed from the MSCI USA Index, along with Metaplanet and Upexi, while Sharplink only made the watchlist. The change takes effect after the close on November 30, and the stock initially fell 1.65% in after-hours trading.
JPMorgan had earlier estimated that this one company alone could face about $2.8 billion in passive selling.
The irony is that it entered and exited for the same reason. In May 2024, it joined the index under the name MicroStrategy on the strength of its Bitcoin treasury. Now it’s being kicked out because its roughly 850,000 $BTC holdings are so large that it’s classified as a “non-operating company.”
It’s the stock being kicked out, not the coins. It will remain listed on Nasdaq as usual, and not one of its 850,000 $BTC has moved.
The index may not want it, but it still holds the coins.
#MSCI
Under the new rules, six companies were cut this time. Strategy was removed from the MSCI USA Index, along with Metaplanet and Upexi, while Sharplink only made the watchlist. The change takes effect after the close on November 30, and the stock initially fell 1.65% in after-hours trading.
JPMorgan had earlier estimated that this one company alone could face about $2.8 billion in passive selling.
The irony is that it entered and exited for the same reason. In May 2024, it joined the index under the name MicroStrategy on the strength of its Bitcoin treasury. Now it’s being kicked out because its roughly 850,000 $BTC holdings are so large that it’s classified as a “non-operating company.”
It’s the stock being kicked out, not the coins. It will remain listed on Nasdaq as usual, and not one of its 850,000 $BTC has moved.
The index may not want it, but it still holds the coins.
#MSCI
