Part 9/13:
Fund Flows and Volatility: Many ETFs and index funds that track MSCI benchmarks would be forced to sell Strategy's stock, potentially triggering market shocks. Analysts from JPMorgan estimate that such an exclusion could cause $2.8 billion in outflows initially, with total outflows potentially reaching $8.8 billion if other index providers follow suit.
Stock Price and Company Valuation: Forced selling could depress Strategy’s stock price, lowering its market-to-Bitcoin net asset value (MNAV). A decline below 1 could make future capital raises costlier, hampering its expansion and BTC acquisition strategies.