Strategy chairman Michael Saylor has initiated direct engagement with MSCI as the index provider considers excluding the company from its indices, with a final determination scheduled for January 15, 2026. Removal from MSCI indices could trigger outflows of approximately $2.8 billion, according to JPMorgan analysis. Strategy's shares have declined 37% this year, and the company warned it could face a $5.5 billion loss in 2025 if Bitcoin fails to recover before year-end.

Bitcoin climbed 11% from $83,822.76 on December 1 to surpass $93,000 as the Federal Reserve formally concluded quantitative tightening and injected approximately $38.5 billion in liquidity through repo operations. The rally gained momentum after Vanguard opened its platform to crypto ETFs for the first time, while weak manufacturing data pushed rate-cut expectations above 85%. The price movement reflected multiple converging factors including the Fed's policy shift, Vanguard's distribution milestone, and short-covering from oversold levels.

Bitcoin rose above $94,000 on December 3, marking a two-week high as the cryptocurrency sought to recover from losses exceeding $1 trillion since early October. Ether climbed nearly 10% to $3,092, while XRP and SOL posted gains of 8% and 11.7% respectively, according to CoinGecko.

American Bitcoin's stock closed down 38.83% at $2.19 on Tuesday after pre-merger private placement shares became tradable. Co-founder Eric Trump said the volatility was expected as early investors could sell for the first time, and confirmed he would not sell his personal holdings. The decline came despite strong third-quarter results showing revenue of $64.2 million and net income of $3.5 million.

The United Kingdom enacted the Property (Digital Assets etc.) Act 2025 on Tuesday, creating a third category of property under UK law for digital assets including bitcoin and stablecoins. The legislation, which passed both parliamentary chambers without amendments, provides legal clarity for ownership disputes, asset recovery, and insolvency proceedings involving digital holdings.

American Bitcoin shares fell 38.83% on Tuesday after restrictions lifted on shares issued in a pre-merger private placement. The stock declined nearly 50% in early trading before closing at $2.19. Co-founder Eric Trump said early investors were taking profits and confirmed he would not sell his holdings.

Bitcoin climbed 6.98% to $93,099 from $87,019 over 24 hours after Vanguard reversed its policy on cryptocurrency ETFs. The asset manager enabled clients to purchase funds holding Bitcoin, Ethereum, XRP, and Solana on Tuesday. Bloomberg ETF analyst Eric Balchunas linked the rally to what he called the "Vanguard Effect," noting $1 billion in IBIT volume within the first 30 minutes of trading.

Strategy (MSTR) holds Bitcoin valued at approximately $60.4 billion as of December 3, while its market capitalization stands at $50.7 billion. The discount means investors can acquire the company's cryptocurrency holdings below market value, with its software operations effectively priced at a negative figure. After adjusting for $8.2 billion in debt, net Bitcoin holdings remain valued at roughly $48.6 billion, according to financial commentary platform The Kobeissi Letter.