Changes in US stocks | Strategy (MSTR.US), a major Bitcoin holder that may be expelled from the MSCI Global Index, fell more than 4%

The Zhitong Finance App learned that on Friday, Strategy (MSTR.US), a major Bitcoin holder, fell more than 4% at the beginning of the session and is now at $145.06. According to the news, recently, MSCI Inc. passed new rules, which may eventually remove Strategy Inc from its global stock benchmark index. This move could trigger a multi-billion dollar stock sell-off and add new pressure to the financing model behind Michael Saylor's huge Bitcoin holdings. According to analysis, once finally eliminated, it will severely disrupt the cryptocurrency reserve model pioneered by this former enterprise software company: companies raise capital from the capital market and accumulate large amounts of cryptocurrencies by issuing additional common shares, issuing bonds, and issuing complex securities.

The most critical effect is that removing the index will reduce the stock's investor base, thereby suppressing the stock price. J.P. Morgan Chase estimated last year that if MSCI removed it, it would trigger a sell-off of up to 2.8 billion US dollars in Strategy stocks; if other indices follow suit and adjust, the sell-off scale could further increase to 8.8 billion US dollars.