đ MSCI DROPS STRATEGY FROM INDEX, BIGGEST BITCOIN-BUYING MACHINE FACES TROUBLE
đ MSCI confirms Strategyâs removal from global indices
MSCI confirmed that Strategy, the largest publicly traded Bitcoin holder, will be removed from its global equity indices after the November 30 close, under new criteria for ânon-operatingâ companies. Losing passive inflows could weaken Strategyâs ability to raise capital to buy more Bitcoin.
đ° Selling pressure and verified figures
Funds tracking MSCI will have to sell around 13 million shares, equivalent to 3.1% of shares outstanding and about $1.6 billion, while analysts estimate selling pressure could reach $2.8 billion or more. Strategy holds 850,364 BTC, worth about $62.6 billion. Its mNAV multiple has compressed from 3.4x to around 1.08x, and in the week ending November 8, the company used just $81.9 million of the $283.8 million it raised to buy 1,036 BTC.
đ¤ď¸ Being dropped from the index does not force Strategy to sell Bitcoin or delist its shares, and some analysts believe much of the impact is already reflected in the price. But as passive inflows dry up, the marketâs biggest Bitcoin-accumulating machine will find it harder to keep buying at its previous pace.
$BTC
đ MSCI confirms Strategyâs removal from global indices
MSCI confirmed that Strategy, the largest publicly traded Bitcoin holder, will be removed from its global equity indices after the November 30 close, under new criteria for ânon-operatingâ companies. Losing passive inflows could weaken Strategyâs ability to raise capital to buy more Bitcoin.
đ° Selling pressure and verified figures
Funds tracking MSCI will have to sell around 13 million shares, equivalent to 3.1% of shares outstanding and about $1.6 billion, while analysts estimate selling pressure could reach $2.8 billion or more. Strategy holds 850,364 BTC, worth about $62.6 billion. Its mNAV multiple has compressed from 3.4x to around 1.08x, and in the week ending November 8, the company used just $81.9 million of the $283.8 million it raised to buy 1,036 BTC.
đ¤ď¸ Being dropped from the index does not force Strategy to sell Bitcoin or delist its shares, and some analysts believe much of the impact is already reflected in the price. But as passive inflows dry up, the marketâs biggest Bitcoin-accumulating machine will find it harder to keep buying at its previous pace.
$BTC
