JPMorgan just warned Strategy could be kicked out of major equity indices.

Strategy's stock is collapsing much faster than Bitcoin itself. The reason is a severe structural risk that breaks the company's business model:

1️⃣ JPMorgan warns of MSCI delisting risk on January 15th, 2026 because Strategy holds too much Bitcoin (77%+ of assets).

2️⃣ Meanwhile, the premium over its Bitcoin holdings has collapsed to 1.1x.

3️⃣ Delisting means $2.8 billion+ in passive index funds must sell Strategy stock, creating massive mechanical pressure.

Source: Breakdown of debt maturities, forced selling mechanics, and why January 15th decides everything - from Thesis_io