Arca Chief Investment Officer: The biggest risk for MSTR is the surge in BTC prices while the stock price remains stagnant

Arca's Chief Investment Officer Jeff Dorman stated on platform X that the biggest risk facing MSTR is not being removed from MSCI or a decline in BTC prices. Being removed from MSCI has only a slight negative impact on the stock and is irrelevant to Bitcoin; due to having over 2 years of cash reserves and no forced sale clauses, a decline in BTC prices will not force MSTR to sell.

He believes the real risk lies in BTC prices rising while MSTR's price stagnates. If MSTR no longer tracks BTC prices and trades significantly below mNAV, it will be unable to raise funds through ATM, and will have to consider selling BTC to repurchase stock.