若被“剔除”指数，这对“币圈龙头股”MTSR意味着什么？

Group 1 - MSCI has proposed to exclude "Digital Asset Treasury Companies" from its global investable market index, with MicroStrategy being a prominent example [1][3] - According to JPMorgan analysts, if MicroStrategy is removed from the index, it could face significant valuation pressure, potentially triggering forced sales of approximately $2.8 billion in stock from passive funds tracking the MSCI index [3][4] - MicroStrategy's market capitalization is estimated at around $59 billion, with about $9 billion held by index-tracking investment vehicles, including the $2.8 billion specifically tracking the MSCI index [3][4] Group 2 - Market analysts suggest that while the potential sell-off is substantial, it may still be manageable within the market's liquidity capacity, as the average daily trading volume for MicroStrategy is slightly above $4.8 billion [6] - A $2.8 billion sell order would represent nearly 60% of MicroStrategy's average daily trading volume, indicating a significant short-term impact on the stock price [6] Group 3 - Michael Saylor, the founder of MicroStrategy, defends the company’s identity, emphasizing that it is not solely a "Digital Asset Treasury Company" but also has a substantial software business valued at $500 million [7] - Support for Saylor's position exists, as MicroStrategy was included in the Nasdaq-100 index less than a year ago, suggesting recognition of its attributes as a technology company [8]