[JPMorgan: The risk of Strategy being removed from MSCI has been priced in] According to Bloomberg, JPMorgan stated that the share price of Strategy Inc. has already reflected the risk of being removed from major stock benchmark indices and views the upcoming MSCI decision as a potential upside catalyst, even though the removal would still trigger passive fund outflows. JPMorgan previously estimated that if index-tracking funds were required to divest related assets, there could be outflows of up to $2.8 billion. However, after a significant sell-off, JPMorgan believes that most of the losses have already been priced into the stock. Following the release of this report, Strategy's share price plummeted by about 20%, and the current stock price is now close to the value of the company's Bitcoin holdings. The analyst team wrote in a report: 'In our view, the decision to remove Strategy from the MSCI index has limited negative impact on Strategy and Bitcoin, as the effects of the index removal have been fully priced in. On the other hand, if MSCI's decision on January 15 is positive, the stock price of Strategy and the price of Bitcoin are likely to rebound strongly to levels seen before October 10.' JPMorgan also reiterated its volatility-adjusted comparison between Bitcoin and gold, suggesting that over the next 6 to 12 months, Bitcoin's theoretical price could approach $170,000. While this prediction is speculative, it highlights the potential upside that the bank sees ahead of the MSCI ruling.