Over the past few months, Strategy (formerly known as MicroStrategy), the largest publicly traded Bitcoin (BTC) treasury company, has found itself at the center of a pressing issue that could lead to its exclusion from the Morgan Stanley Capital International (MSCI) index.
This potential move not only poses significant financial risks for the firm but could also have broader implications for the cryptocurrency sector, with analysts estimating that it could result in losses up to $9 billion in demand for its shares.
Industry-Wide Consequences
The MSCI proposed in October that companies holding digital assets comprising 50% or more of their total assets should be removed from its global benchmarks, arguing that such companies resemble investment funds, which are excluded from its indexes.
However, many firms, including Strategy, assert that they are operational companies creating innovative products and argue that MSCI’s proposal is biased against the cryptocurrency in
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