🐉 MSCI Drops Strategy From Its Global Indexes
👉 MSCI will remove Strategy (MSTR) from its global indexes, ruling the largest corporate bitcoin holder resembles an investment fund more than an operating company, Reuters reports.
👉 Passive funds tracking MSCI indexes must sell their MSTR shares before the changes take effect at the close on November 30.
👉 JPMorgan estimates the exclusion could drive about $2.8 billion in forced selling of MSTR stock.
👉 Strategy holds 850,364 BTC as of November 8, bought at an average of $75,456 per coin. The ruling does not force Strategy to sell any bitcoin, and MSTR shares are not delisted.
👉 MSTR fell 0.8% in extended trading after the announcement, after closing at $121.07, down 3.6% on the day. BTC trades near $74,150, holding above the $73,000 level.
#BinanceSquare #Bitcoin #Strategy #MSCI #Crypto
The forced selling puts the bitcoin treasury model under real pressure, and the market will watch whether other index providers follow.
👉 MSCI will remove Strategy (MSTR) from its global indexes, ruling the largest corporate bitcoin holder resembles an investment fund more than an operating company, Reuters reports.
👉 Passive funds tracking MSCI indexes must sell their MSTR shares before the changes take effect at the close on November 30.
👉 JPMorgan estimates the exclusion could drive about $2.8 billion in forced selling of MSTR stock.
👉 Strategy holds 850,364 BTC as of November 8, bought at an average of $75,456 per coin. The ruling does not force Strategy to sell any bitcoin, and MSTR shares are not delisted.
👉 MSTR fell 0.8% in extended trading after the announcement, after closing at $121.07, down 3.6% on the day. BTC trades near $74,150, holding above the $73,000 level.
#BinanceSquare #Bitcoin #Strategy #MSCI #Crypto
The forced selling puts the bitcoin treasury model under real pressure, and the market will watch whether other index providers follow.