- MSCI finalized rules proposed in August that deem companies mainly holding investments ineligible for its Global Investable Market Indexes.
- Affected firms will be named Nov 11, and the change takes effect at the close of Nov 30.
- Strategy is the largest publicly listed bitcoin holder with 848,250 BTC worth about $69.67 billion, according to Bitcoin Treasuries.
- JPMorgan analysts estimate index exclusion would trigger about $2.8 billion in MSTR stock outflows, and index-driven sales would hit Strategy's shares rather than its bitcoin holdings.
- MSCI is also ending its October 2025 temporary measures for companies with digital assets making up 50% or more of total assets, and these companies will be judged under the new rules from the November review.
- On Oct 13, 2026, Michael Saylor said bitcoin should move back above $100,000 after bottoming slightly below $60,000.
Quotes
“The MSCI episode highlights a growing tension between traditional index construction and the rise of companies that treat Bitcoin as a core treasury asset rather than a secondary holding”
“It should definitely move back into the six figures beyond $100,000”