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Strategy is contesting MSCI's proposed non-operating company screen by pointing to the regulatory position MSCI itself argued to the SEC in 2022, in a letter circulated Aug. 31, with roughly $24 billion of passive MSTR holdings at stake. The transmission channel is mechanical index flow rather than fundamentals: exclusion from MSCI equity benchmarks would force tracker selling in MSTR, widen its discount to net asset value, and tighten the equity-issuance window that funds Bitcoin purchases, making it a second-order liquidity risk for BTC. The decisive variable is MSCI's final methodology ruling and whether the screen ends up judging Bitcoin holdings as an operating asset; until that is published, treat the outflow number as a contingent risk, not a confirmed event, and watch other index providers for copycat treatment of digital-asset treasury companies.
As a Crypto signal, watch whether it changes price action, volatility, or flows around MSTR, BTC.
Original Source: CryptoSlate
This page is market information analysis, not investment advice.
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