MicroStrategy Faces New Concerns After MSCI Index Shift

Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead.

Grab a coffee, settle in, and brace yourself, because while MSCI’s cap on new MSTR shares has removed an important automatic buying mechanism, the market is far from entirely constrained. Today’s US Crypto News highlights the ongoing tension between TradFi and the digital asset ecosystem.

Crypto News of the Day: Max Keiser Explains Why the MSCI MSTR Cap Isn’t What It Seems

Bitcoin’s muted response to MSCI’s recent index decision has sparked a debate among investors, analysts, and crypto commentators over whether the market is structurally constrained or quietly manipulated.

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The latest changes to MSCI’s treatment of crypto-heavy treasury companies, such as MicroStrategy (MSTR), have removed a key source of passive buying. Yet, prominent voices like Max Keiser insist the impact may be overstated.

MSCI will no longer include newly issued shares from companies such as MSTR in its indexes. Previously, large index funds were automatically required to purchase these shares, creating consistent buying pressure.

Under the new rules, that automatic demand disappears, reducing dilution-driven capital inflows and muting short-term market reactions.

However, Bitcoin pioneerMax Keiser dismissed the MSCI cap, pointing out that forced buying still occurs when MSTR stock rises in tandem with Bitcoin.

“The cap by MSCI to exclude new MSTR shares in its weighting is a nothing burger. Forced buying is still triggered when Bitcoin-heavy MSTR stock price increases,” Keiser assured.

While this suggests that the reflexive upside is not entirely dead, the dampening effect on automatic index-driven flows cannot be ignored.

Market Suppression Concerns

Against this backdrop, analysts warn that MSCI’s new rules freeze potential upside without explicitly banning MSTR.

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By limiting passive flows, the change slows the growth of Bitcoin-backed corporate stock and illustrates TradFi’s broader caution toward crypto adoption.

While this may delay Strategy’s S&P 500 inclusion this year, it is still expected to outperform the index, albeit against resistance from entrenched financial powers.

“I think it’s clear that Strategy are going to have to win the hard way…I still expect it to outperform the S&P 500 this year greatly, but the powers that be will not make it easy,” said analyst Zynx.

Despite these constraints, Strategy continues to demonstrate capital strength. Adam Livingston highlighted that MSTR recently gained $3.7 billion in premium, leveraging SCALE and mNAV mechanics to efficiently raise capital, increase Bitcoin per share, and strengthen dollar liquidity.

Even modest mNAV movements are enabling strategic growth, reflecting the company’s resilience.

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MSCI Index Move Spurs Accusations of Bitcoin Market Manipulation by Institutions

Several commentators have painted the sequence of events as a coordinated Wall Street cycle. Quinten Francois, Ash Crypto, and The Crypto Room note that MSCI’s October threats, three months of suppressed prices, Morgan Stanley’s ETF filings, and the sudden MSCI reversal all align with a pattern:

• Create fear
• Induce capitulation
• Accumulate cheaply, and
• Profit once the overhang is removed.

They highlight potential ties between MSCI (originally a Morgan Stanley division) and JP Morgan, suggesting collusion in spreading FUD and managing exposure.

Despite short-term constraints, long-term optimism remains strong. Tim Draper emphasizes 2026 as a breakout year for Bitcoin adoption.

Institutional accumulation and mainstream adoption are expected to sustain eventual upside, even as index mechanics moderate short-term flows.

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Here’s a summary of more US crypto news to follow today:

Crypto Equities Pre-Market Overview