We'll see today. Strategy holds approximately 850,000 BTC at a cost of $64.1 billion. I estimate that Strategy will most likely be removed from the MSCI index. The biggest impact will be a slowdown in Strategy's BTC buying spree (it finances BTC purchases through stock/preferred stock issuance), which is a long-term negative. MSSTR shares will face passive selling pressure. In the short term, this will mainly negatively impact sentiment in the crypto market because the loss of MSCI inclusion will reduce its financing efficiency and premium potential. Without funds, sustained large-scale buying will definitely slow down. The impact is primarily a medium- to long-term negative; direct BTC selling pressure is unlikely. Furthermore, Strategy itself has mentioned that its BTC purchasing power will be weakened, essentially reducing one of the largest corporate-level marginal buyers in the crypto market.