Overview
- Strategy (MSTR) survived the Nasdaq 100 annual rebalance, with index changes taking effect December 22 after several constituents were dropped and others added.
- MSCI is reviewing whether companies with more than 50% of assets in crypto qualify for its benchmarks, with a decision expected in January.
- Analysts model multibillion-dollar outflows if exclusions occur, including about $1.5 billion or more tied to Strategy and as much as $8.8 billion if other providers follow, according to JPMorgan estimates.
- The company filed a formal objection to MSCI’s proposal and recently raised a $1.44 billion cash reserve intended to cover dividends and debt service for roughly 21 months.
- Strategy holds about 660,624 BTC and trades closely with bitcoin’s moves, with shares reported down roughly 36% year-to-date and about 65% from their 52‑week high.