CompaniesUnited States

MSCI to remove Strategy from its indexes at end of November

MSCI will drop Strategy and Metaplanet from its indexes after November 30, with index funds facing about $2.8 billion in potential selling. The move follows a new screen aimed at companies that do not run an operating business.

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MSCI, an index provider, will remove Strategy and Metaplanet from its indexes after the close on November 30. Both companies are Bitcoin treasury firms, meaning they keep bitcoin on their balance sheets.

A new screen that marks companies MSCI considers non-operating led to this change. MSCI's list also drops Yellow Cake, Skel and Upexi. Among the 24 removals from its USA indexes, Strategy is the sole company that will not shift into small-cap indexes, the benchmarks that follow smaller firms.

Strategy$110.39down −22.93%over 1 month
$153.48$110.3914 Oct13 Nov

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Bitcoindown −17.05%1 month

Index funds that track these benchmarks are expected to sell shares, and the material puts the potential selling at about $2.8 billion for Strategy. Michael Saylor, Strategy's leader, has also pitched the company's tax-efficient Bitcoin dividend model.

Money raised by Strategy went more to buying back preferred shares than to Bitcoin in the November 2 to 8 period. The November 30 close is described as a financing test for the company.

$1,000 in Strategy

Had you put $ into Strategy a month ago, it would be worth – now.

From the prices in the chart, before any fees or taxes. Not a suggestion to buy or sell.

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