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Bitwise CIO Says Strategy Not Required to Sell Bitcoin Amid Index Review

Strategy (formerly MicroStrategy) has no obligation to liquidate its bitcoin holdings regardless of index changes or market conditions, Bitwise Chief Investment Officer Matt Hougan said on Dec. 4. MSCI is reviewing whether to exclude digital asset treasury companies from its investable indices, with a decision expected by Jan. 15, while JPMorgan estimates potential passive selling of up to $2.8 billion in Strategy shares if removed. Hougan noted that when Strategy joined the Nasdaq-100 last year, requiring passive funds to buy roughly $2.1 billion in shares, the stock showed minimal price movement, and assigned about 75% probability to the company's removal from MSCI indices.
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