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Strategy and bitcoin-buying firms face wider exclusion from stock indexes
Michael Saylor's Strategy could soon be dropped from MSCI and potentially other major stock indexes, which analysts say could cost the bitcoin-hoarding giant up to $9 billion in demand for its shares and hurt the wider appeal of the sector. After queries from clients, MSCI in October proposed ditching from its global benchmarks companies whose digital asset holdings represent 50 per cent or more of their total assets. It says they resemble investment funds, which it does not include in its benchmarks. But many such firms argue that they are operational companies developing novel products, and that MSCI's proposals ... (full story)