Strategy, the biggest corporate holder of Bitcoin, is being removed from MSCI indexes after the close on November 30.

Strategy, the biggest corporate holder of Bitcoin, is being removed from MSCI indexes after the close on November 30. The index provider says that under its new rules, companies that mostly hold investment assets are treated like funds.

JPMorgan estimates index funds could sell $2.8 billion worth of the company's shares. That matters for Bitcoin because Strategy partly pays for its purchases by issuing new shares, so weaker demand could shrink its future buying.