MSTR Stock Spikes Over 6% After Hours As MSCI Drops Plan To Exclude Crypto Treasury Companies Like Strategy From Global Index – Michael Saylor Reacts
Global index provider MSCI decided against excluding cryptocurrency treasury firms from its Global Investable Market Indexes on Monday, significantly boosting shares of companies such as Strategy Inc. (NASDAQ:MSTR) in the after-hours session.
MSCI’s Relief For Crypto-Hoarding Companies
The MSCI announced that the current index treatment of digital asset treasury companies identified in the preliminary list, whose digital asset holdings account for 50% or more of their total assets, will remain unchanged “for the time being.”
The decision was made following a consultation process that raised institutional investors’ concerns that these companies “exhibit characteristics similar to investment funds.”
The consultation feedback also highlighted that such companies might be part of a larger group of entities whose main activities are investment-oriented rather than operational.
MSCI said that the difference between investment companies and other firms holding non-operating assets, such as digital assets, for …
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