#Strategy和Metaplanet遭MSCI指数剔除 Bad news just keeps coming... Strategy has officially been removed from MSCI, which means it may become increasingly difficult for the company to raise money to buy Bitcoin in the future 😕😕
The change will take effect after the market closes on November 30. Based on Strategy’s previously disclosed passive-fund holdings and yesterday’s closing price, about $1.57 billion worth of MSTR shares are involved. JPMorgan previously estimated that broader fund outflows could reach as much as $2.8 billion.
Although these funds are selling $MSTR, the impact could reach Bitcoin by another route: pressure on the stock price and a narrowing premium of the stock relative to its Bitcoin assets could make it harder and more expensive for the company to raise funds through new share issues and buy more Bitcoin.
In the past, the cycle was “issue shares → raise cash → buy Bitcoin.” Now that cycle is facing new pressure. How much buying power will this major Bitcoin buyer be able to maintain in the future?
The change will take effect after the market closes on November 30. Based on Strategy’s previously disclosed passive-fund holdings and yesterday’s closing price, about $1.57 billion worth of MSTR shares are involved. JPMorgan previously estimated that broader fund outflows could reach as much as $2.8 billion.
Although these funds are selling $MSTR, the impact could reach Bitcoin by another route: pressure on the stock price and a narrowing premium of the stock relative to its Bitcoin assets could make it harder and more expensive for the company to raise funds through new share issues and buy more Bitcoin.
In the past, the cycle was “issue shares → raise cash → buy Bitcoin.” Now that cycle is facing new pressure. How much buying power will this major Bitcoin buyer be able to maintain in the future?
