Strategy Sinks Nearly 10% on MSCI News But Saylor Is Still $5B Up

Strategy shares lost 9.6% on Friday in the first full session after MSCI’s index ruling, even though the company’s 848,250 bitcoin still sit about $5 billion above cost. MSCI announced on Oct. 15, after U.S. markets closed, that companies which mainly hold assets rather than run a business will lose index eligibility . Friday was the first full trading day to digest it and here’s how the Saylor-adjacent board closed: Trading volume backed the move as some 31.8 million MSTR shares changed hands, which market analysts put at 1.44x its normal level.

Source: Bitcoin.com News