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Bitcoin Giant Strategy Could Shed Billions If Removed From Stock Indices: JPMorgan
Outflows from Strategy (MSTR) could total $2.8 billion if global finance company MSCI excludes the Bitcoin treasury giant from its equity indices, and reach $11.6 billion if other exchanges follow suit, JPMorgan wrote in a Thursday note.
A recent drop in MSTR's share price–adding to this year's declines–has stemmed more from concerns about the company's potential removal from MSCI lists, where it is currently included, as well as on the Nasdaq 100, Russell 1000, and other indices, than Bitcoin's price slump, analysts from the investment banking giant wrote.
"This index inclusion has enabled Bitcoin exposure to indirectly encroach into both retail and institutional investor portfolios," the analysts wrote. "However, with MSCI now considering removing MicroStrategy and other digital asset treasury companies from its equity indices, this previous indirect encroachment could go into reverse."
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