JPMorgan Says Strategy’s MSCI-Exclusion Risk Is Already Priced In

JPMorgan says Strategy Inc.’s stock has already priced in the risk of exclusion from major equity benchmarks, casting the upcoming MSCI decision as a potential upside catalyst, even though a removal would still prompt passive outflows.

The potential ejection came as the largest corporate holder of Bitcoin already grapples with falling token prices. With around $60 billion in the cryptocurrency and limited cash, concern over sales of Strategy’s digital asset holdings has grown, fueling further selling pressure in a crypto market that is already fragile with thin liquidity and muted demand.