Bitwise CIO Matt Hougan has dismissed concerns that MicroStrategy might be forced to sell its $60 billion Bitcoin holdings if delisted from MSCI indexes. Hougan stated that MicroStrategy has no debt due until 2027 and sufficient cash reserves to cover interest payments, making a forced sale unlikely. He also noted that Bitcoin's current price is 24% above MicroStrategy's average purchase price, reducing the incentive to sell. Despite a 23% drop in MicroStrategy's stock over the past month, Hougan argued that index delistings typically have less impact than expected, referencing the company's addition to the Nasdaq 100. MicroStrategy CEO Michael Saylor reiterated that the company remains a publicly traded business with a $500 million software division and a treasury strategy that leverages Bitcoin as productive capital.