Reuters: Strategy and cryptocurrency treasury companies are facing the risk of being more widely excluded from stock indices

According to Reuters, Strategy (MSTR.O) may soon be removed from MSCI and other major stock indices. Analysts say this move could result in the company, which has heavily accumulated Bitcoin, losing up to $9 billion in stock demand and weaken the appeal of the entire sector.

In response to client inquiries, MSCI proposed in October to remove companies with digital asset holdings constituting 50% or more of their total assets from its global benchmark indices. MSCI believes that such companies are more like investment funds, which are not included in its index system. However, many related companies argue that they are engaged in actual operations and developing innovative products, claiming that MSCI's proposal unfairly discriminates against the crypto industry.

Additionally, dozens of companies have been inspired to incorporate crypto tokens into their balance sheets, hoping for future appreciation, but questions about the sustainability of these business models are also increasing. MSCI is 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 the index, other index providers may follow suit.