Strategy Shares Fall 5.1% as MSCI Exclusion Could Trigger $11.6B in Outflows

Strategy faces potential outflows of up to $11.6 billion if MSCI and other index providers exclude Bitcoin treasury companies from equity benchmarks, according to JPMorgan analysis released Thursday. The Virginia-based firm's stock fell 5.1% to $177.13, extending its monthly decline beyond 40%. MSCI is reviewing a proposal to remove companies where digital assets represent at least 50% of holdings, with a final decision expected January 15.