MicroStrategy stock jumped approximately 5-6% in after-hours trading. This followed an announcement that index provider MSCI delayed a potential reclassification of digital asset treasury companies.
The delay prevents the exclusion of firms like MicroStrategy from MSCI indexes. An exclusion would have forced passive funds tracking MSCI benchmarks to sell their holdings, avoiding potentially billions of dollars in selling pressure.
MSCI stated it requires further research and consultation. The firm seeks to distinguish between investment companies and operating firms that hold digital assets as a core strategy. MSCI will maintain the current treatment for these firms for the time being.