Strategy’s roughly $53B Bitcoin position makes this MSCI proposal worth watching closely. If the proposed rule eventually removes Strategy from major MSCI indexes, passive funds tracking those indexes could rebalance their portfolios and create selling pressure on $MSTR . That could weaken the share price and make future capital raises more expensive. Strategy has relied heavily on capital markets to build its Bitcoin treasury, so tighter financing conditions could also slow the pace of future $BTC purchases. That is where the wider market impact comes in. The first pressure would likely appear in MSTR, while Bitcoin could feel the effects through slower corporate accumulation and weaker sentiment around treasury companies. For me, the key signals are MSCI’s final decision, passive flows around $MSTR , Strategy’s financing activity, and the pace of its next Bitcoin purchases.