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CoinWorld News reports that Arca Chief Investment Officer Jeff Dorman posted on X platform stating that the biggest risk facing MSTR is not being delisted by MSCI or a decline in BTC price. Being delisted by MSCI has only a minor negative impact on stocks and is irrelevant to Bitcoin; since MSTR has over 2 years of cash reserves and no forced sale clauses, a drop in BTC price will not force MSTR to sell. He believes the real risk is that BTC price rises while MSTR's stock price stagnates. If MSTR no longer tracks BTC price and its trading price is far below mNAV, it will be unable to raise funds through ATM, and will have to consider selling BTC to buy back stock.