Source: CryptoNewsNet
Original Title: Strategy surges 6% on MSCI decision not to exclude digital asset treasury firms from indexes
Original Link: https://cryptonews.net/news/finance/32236384/
Strategy (MSTR) is ahead 6% in after-hours trading on Tuesday after MSCI decided not to exclude digital asset treasury companies (DATs) from its indexes.
Under pressure for most of the day, the price of bitcoin added about 1% on the news as well, now trading at $93,500.
“Distinguishing between investment companies and other companies that hold non-operating assets, such as digital assets, as part of their core operations rather than for investment purposes requires further research and consultation with market participants,” said MSCI in a statement. “For instance, assessing index eligibility across a range of these types of entities may require additional inclusion assessment criteria, such as financial-statement-based or other indicators.”
“For the time being, the current index treatment of DATCOs identified in the preliminary list published by MSCI of companies whose digital asset holdings represent 50% or more of their total assets will remain unchanged,” MSCI continued.
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Strategy surges 6% on MSCI decision not to exclude digital asset treasury firms from indexes
Source: CryptoNewsNet Original Title: Strategy surges 6% on MSCI decision not to exclude digital asset treasury firms from indexes Original Link: https://cryptonews.net/news/finance/32236384/ Strategy (MSTR) is ahead 6% in after-hours trading on Tuesday after MSCI decided not to exclude digital asset treasury companies (DATs) from its indexes.
Under pressure for most of the day, the price of bitcoin added about 1% on the news as well, now trading at $93,500.
“Distinguishing between investment companies and other companies that hold non-operating assets, such as digital assets, as part of their core operations rather than for investment purposes requires further research and consultation with market participants,” said MSCI in a statement. “For instance, assessing index eligibility across a range of these types of entities may require additional inclusion assessment criteria, such as financial-statement-based or other indicators.”
“For the time being, the current index treatment of DATCOs identified in the preliminary list published by MSCI of companies whose digital asset holdings represent 50% or more of their total assets will remain unchanged,” MSCI continued.