[PRD News Excerpt] Strategy shares fall for six straight months…first time since Bitcoin stockpiling began
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Summary
- Shares of Strategy, the world’s largest Bitcoin stockpiling company, fell for six straight months from July through December 2023, and its annual rate of change was -47.53%.
- CoinDesk reported that Strategy’s shares fell 59.3% over the past six months, suggesting an ongoing price adjustment rather than short-term selling.
- MSCI plans to finalize on the 15th of this month whether to remove Strategy from its indexes, and Bitwise said the likelihood of Strategy’s removal from MSCI indexes is more than 75%.
Shares of Strategy, the world’s largest Bitcoin (BTC) stockpiling company, have declined for six consecutive months.
According to CoinDesk on the 1st (local time), Strategy’s monthly rate of change in its share price recorded declines for six straight months from July through December last year. This is the first time Strategy’s shares have fallen for six consecutive months since it announced Bitcoin stockpiling in 2020.
Strategy’s full-year rate of change last year was tallied at -47.53%. CoinDesk said, “In the 2022 bear market, (Strategy’s shares) plunged sharply and then rebounded more than 40% within a few months,” adding that “the absence of a rebound in the second half of last year suggests the decline is not short-term selling but an ongoing price adjustment.”
The biggest monthly drop was in November last year (-34.26%), followed by October (-16.36%), December (-14.24%) and September (-3.65%). CoinDesk said, “Strategy’s shares have fallen 59.3% over the past six months,” adding that “Bitcoin, by contrast, held up relatively well over the same period.”
Meanwhile, Morgan Stanley Capital International (MSCI) plans to finalize on the 15th of this month whether to remove Strategy from its indexes. MSCI is known to have been discussing with Strategy since the second half of last year whether to exclude it from its indexes.
Strategy is currently included in the MSCI USA and MSCI World indexes. Bitwise, a U.S. digital-asset manager, recently assessed the likelihood of Strategy being removed from MSCI indexes at more than 75%.
