Strategy (MSTR.O) may soon be removed from MSCI and other major stock indices. Analysts say this move could cost the company, which holds a large amount of Bitcoin, up to $9 billion in stock demand and weaken the sector's appeal. In response to client inquiries, MSCI proposed in October to remove companies with digital asset holdings of 50% or more of their total assets from its global benchmark indices. MSCI argues that these companies are more like investment funds, which are not included in its index system. However, many companies involved argue that they are engaged in actual operations and developing innovative products, and believe MSCI's proposal is unfairly discriminatory against the crypto industry. Furthermore, dozens of companies have been inspired to include crypto tokens on their balance sheets in hopes of future appreciation, but questions about the sustainability of these business models are growing. MSCI is currently 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. (Reuters)
