Morgan Stanley Capital International is advancing a plan that may strip bitcoin giant Strategy from its worldwide equity benchmarks.
On Thursday, the index provider announced that it “will implement the proposal to define and classify non-operating companies as ineligible for inclusion in the MSCI Global Investable Market Indexes.”
Previously, the bitcoin treasury firm strongly criticized the concept, labeling it both “flawed” and “misguided.”
The official statement explained: “MSCI will implement the proposal to define and classify non-operating companies as ineligible for inclusion in the MSCI Global Investable Market Indexes, as set out in the consultation announced on August 3, 2026, with minor modifications.”
It added that “the changes will be implemented as part of the November 2026 Index Review, which will take effect as of the close of November 30, 2026.”
While this ruling does not instantly push Strategy out of the Global Investable Market Indexes, upcoming evaluations could eventually drop the enterprise from the index.
Should Strategy be removed from the index, a smaller pool of institutional investors would be able or willing to hold the stock.
Strategy did not issue an immediate response to the final verdict. Back in August, the firm stated regarding the initiative: “Bitcoin doesn’t need MSCI. Neither does Strategy.”
Back in 2025, MSCI floated the idea of barring any company from its indices if its digital asset holdings account for 50% or more of its total assets.
Formerly known as MicroStrategy, Strategy is an enterprise software developer that shifted its strategy toward accumulating and retaining bitcoin in 2020.
Initially acquiring the cryptocurrency to safeguard shareholder value, the firm has since ramped up its purchases aggressively, establishing itself as the premier corporate holder with 848,250 bitcoins valued at $69.2 billion based on current market rates.
Market participants can purchase shares of Strategy on the Nasdaq under the ticker MSTR to gain amplified exposure to bitcoin price movements.
On Friday, Nasdaq-listed shares of Strategy traded down by more than 6%.
Frequently Asked Questions
What is MSCI proposing regarding Strategy?
MSCI is moving forward with a rule to classify non-operating companies—specifically those holding digital assets equal to 50% or more of total assets—as ineligible for its Global Investable Market Indexes.
When will these changes take effect?
The updates will be enacted during the November 2026 Index Review, officially taking effect at the market close on November 30, 2026.
How does Strategy view the MSCI proposal?
Strategy has previously condemned the idea as “misguided” and “flawed,” stating that “Bitcoin doesn’t need MSCI. Neither does Strategy.”
How much bitcoin does Strategy currently hold?
Strategy is the largest corporate holder of bitcoin, boasting 848,250 bitcoins valued at $69.2 billion at current prices.
