@Strategy holds 848,250 bitcoin, more than any company, and MSCI just adopted a rule that could call it a non-operating company. MSCI stated that Strategy failed 4 of 5 balance sheet tests and index funds sell it at the Nov 30 rebalance. A uranium holder got flagged too. @saylor pushed back, claiming that Strategy’s active capital management and digital credit products demonstrate operating business qualities and MSCI’s decision is a bad one. What do you think?
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