Dec. 3 at 1:30 PM
Strategy shares rose 3% on Wednesday as Chairman Michael Saylor downplayed concerns about a possible removal from MSCI indexes, while bitcoin’s rebound offered support. MSCI will decide on January 15 whether to drop companies whose main activity is buying crypto, which could trigger outflows of up to
$8.8 billion, according to JPMorgan.
Saylor said a potential exclusion “won’t make any difference” and confirmed the company is engaging with MSCI. Strategy’s model of using its listed structure to accumulate bitcoin has fallen out of favor, reflected in a 37% stock drop versus bitcoin’s 0.5% decline.
Wednesday’s move came as bitcoin bounced to
$93,000 after Monday’s dip to
$83,800, lifting crypto-related stocks.
$MSCI $JPM