MSCI Advances Proposal That Could Remove Strategy From Its Indexes

MSCI is pushing forward with a plan that might exclude bitcoin-focused firm Strategy from worldwide stock indexes.

On Thursday, the index provider announced it "will implement the proposal to define and classify non-operating companies as ineligible for inclusion in the MSCI Global Investable Market Indexes."

Earlier, Strategy, which holds bitcoin as a treasury asset, criticized the notion, describing it as "misguided" and "flawed."

"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," the statement said. "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."

MSCI's move does not instantly drop Strategy from its Global Investable Market Indexes, though subsequent reviews might result in the company being left out.

Should Strategy be removed, fewer institutional investors would be likely to own or hold the shares.

Strategy did not have an immediate response to MSCI's decision. In August, the firm said regarding the proposal: "Bitcoin doesn't need MSCI. Neither does Strategy."

In 2025, MSCI suggested barring from its indexes any company where digital-asset holdings make up at least half of total assets.

Strategy, previously known as MicroStrategy, is a software firm that shifted its focus to acquiring and keeping bitcoin starting in 2020.

The company initially purchased the digital currency to safeguard investor interests, but has since made large-scale purchases and is now the top corporate bitcoin holder, owning 848,250 bitcoins valued at $69.2 billion based on current prices.

Those seeking amplified bitcoin exposure can purchase Strategy's Nasdaq-listed shares, ticker MSTR.

On Friday, Strategy's Nasdaq-listed stock traded more than 6% down.