MSCI Just Put Saylor’s Strategy on the Road out of Its Global Indexes

MSCI is reviewing whether Strategy, formerly MicroStrategy, should remain in its global indexes, potentially excluding it because its large Bitcoin holdings make it resemble an investment fund rather than an operating company. A removal could prompt index-tracking investors to sell the stock, though the review is not yet a final decision. The move highlights how Bitcoin-heavy corporate treasuries can affect a company’s eligibility for mainstream equity benchmarks and could add volatility to Strategy shares—and indirectly to Bitcoin sentiment—if exclusion proceeds.