MSCI to remove Strategy (MSTR.US) from its index: $2.8 billions passive sell-off; is the real threat the breakdown of the "buying crypto flywheel"?

According to information from Zhitong Finance APP, global index provider MSCI has introduced new regulations that, effective from the close of trading on November 30, “non-operating companies” will no longer be eligible for inclusion in its Global Investable Market Indexes (GIMI), as part of the November index review; the final list of affected companies will be announced on November 11. Strategy (MSTR.US), led by Michael Saylor—the world’s largest corporate holder of Bitcoin and a constituent of the MSCI USA and MSCI World indexes—appears on the potential removal list. Japan’s Metaplanet is also included, while SharpLink and several other crypto treasury companies have been placed on a watch list.