What Happened? Shares of bitcoin development company Strategy (NASDAQ:MSTR) fell 10.5% in the afternoon session after MSCI approved rules that could remove the Bitcoin treasury company from its indexes. As detailed by TipRanks, under this newly approved framework, MSCI will apply an initial core screen to determine whether an issuer has substantial operating assets, and issuers that fail this screening will face an exclusion screen based on five financial ratios. CoinDesk noted that the rules effectively mean companies that exist mainly to hold investments—such as Strategy's reserves of 848,250 Bitcoin, which are worth roughly $69.67 billion—will no longer be eligible for index inclusion.
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