Strategy in Talks with MSCI Over Potential Index Exclusion, Decision Expected Jan. 15

Strategy is engaging with MSCI regarding potential exclusion from its indices, with a decision expected on Jan. 15, Michael Saylor said. The company is currently a constituent of the MSCI USA and MSCI World indices, with a portion of its market cap linked to benchmarks through passive instruments such as ETFs. A JPMorgan report from last month indicated that if other index providers follow suit with exclusion, it could trigger outflows of up to $8.8 billion. Strategy's stock has declined over 37% this year, which Saylor attributed to the company's leveraged exposure to Bitcoin, noting that "if Bitcoin drops 30%, 40%, the stock will fall more because the equity itself is leveraged."