Reuters reported that Strategy (MSTR.O) may soon be excluded from the MSCI index and other major stock indices. Analysts say this move could cost the company, which holds large amounts of Bitcoin, up to $9 billion in stock demand, and reduce the attractiveness of the entire sector.
After responding to customer inquiries, MSCI proposed in October plans to exclude companies where digital assets constitute 50% or more of total assets from its global benchmark indices. MSCI views these companies as similar to investment funds, and funds are not included in its index system. However, many of the companies involved have argued that they are businesses engaged in actual operations and developing innovative products, and they consider MSCI's proposal to be an unfair discrimination against the cryptocurrency industry.
Additionally, dozens of companies have been inspired to include cryptocurrency tokens on their balance sheets, hoping for an increase in their value in the future, but there are also growing questions about the sustainability of these business models. MSCI is conducting a public consultation and will announce its final decision on January 15. Analysts point out that if MSCI excludes Digital Asset Treasury (DAT) companies from its indices, other index providers may follow suit.
