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Nasdaq Shake-Up? Michael Saylor’s Strategy Faces Possible Removal

Strategy Inc., the corporate lengthy related to Michael Saylor’s large Bitcoin bets, is dealing with the true danger of being dropped from main inventory indexes — a transfer that would pressure billions of {dollars} of pressured promoting and alter how buyers get publicity to Bitcoin.

Reports present index suppliers are weighing new guidelines that might push companies with large crypto treasuries out of conventional benchmarks.

Index Threat Looms

According to disclosures this week, JPMorgan warned that if Strategy is excluded from MSCI’s investable indexes and the Nasdaq 100, passive funds that monitor these benchmarks may dump near $3 billion of the inventory — and the full in danger may rise into the billions extra if different index suppliers act.

MSCI is consulting on a proposal to exclude firms whose digital-asset holdings make up 50% or extra of complete property, a threshold that might put Strategy squarely within the crosshairs of the evaluation.

Strategy Has Been Buying Aggressively

Strategy’s balance sheet is heavy with Bitcoin. Reports present the corporate owned about 649,870 Bitcoin as of Nov. 16, 2025, and that it purchased one other 8,178 BTC just lately for roughly $836 million at a median value close to $102,171 per coin. Those strikes have saved the corporate tied tightly to Bitcoin’s swings.

Stock Pain And Funding Moves

The firm’s inventory has fallen sharply from its highs. Market protection this week notes the corporate is down by roughly 68% from its document peak reached a couple of yr in the past, a drop that has tightened the hyperlink between Bitcoin value strikes and Strategy’s market worth. That weak spot, mixed with heavy crypto holdings, is what introduced index providers’ scrutiny.

Capital Choices Raise New Questions

Strategy just lately modified phrases round fairness issuance, giving itself wider leeway to promote inventory even when its market valuation is weak. That will help fund extra Bitcoin buys. It additionally raises issues about dilution for present shareholders and provides strain if index-tracking funds should promote shares.

Possible Market Impact

If MSCI and others transfer to remove Strategy, the pressured gross sales by index funds may push the inventory decrease and make it tougher for the corporate to boost cash with out hurting present holders.

JPMorgan’s evaluation highlights a near-term date to observe: the index evaluation course of factors to selections anticipated by Jan. 15, 2026, which may mark a turning level for a way public markets deal with firms that sit largely in crypto.

Featured picture from Unsplash, chart from TradingView

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