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Strategy Shares Drop 9.6% Following MSCI Index Eligibility Ruling
Strategy shares dropped 9.6% on Friday following an announcement from MSCI regarding index eligibility rules. MSCI declared on Oct. 15 that companies primarily holding assets rather than operating a business will lose index eligibility. Despite the stock decline, Strategy holds 848,250 bitcoin purchased for $64 billion at an average cost of $75,444 per coin. With bitcoin trading near $81,434, the company maintains a paper gain of roughly $5.08 billion on its holdings. Other crypto-related equities also declined during the trading session, with MARA Holdings dropping 9.6% and Riot Platforms falling 11.5%.