Strategy’s MSCI removal does not force Bitcoin sales, Melker says

Strategy’s removal from MSCI indexes could put pressure on its shares but does not require the company to sell Bitcoin, challenging the view that the exclusion drove the cryptocurrency’s sharp selloff. Speaking on Yahoo Finance’s Daily Wolf on November 13, Scott Melker questioned whether the index decision explained the major Bitcoin selloff. He said selling by funds tracking the indexes should be distinguished from any disposal of Strategy’s Bitcoin holdings. Melker cited JP Morgan’s estimate of about $2.8 billion in forced outflows following the removal, less than a day’s trading volume in Strategy shares.