MSCI Drops Saylor's Strategy From Its Index Amid BTC Sell-Off
MSCI has removed Strategy and Metaplanet from its major indexes following the November 2026 review, a decision driven by new rules on crypto treasury companies.
The changes will take effect after the market close on November 30, 2026. The removal follows MSCI's new rules, which require companies to maintain substantial operating assets and pass five financial ratio tests. A company failing at least four criteria across consecutive annual reporting periods faces removal from the MSCI Global Investable Market Indexes.
MSCI indexes track public companies based on market capitalization and investment risks. Global mutual funds and ETFs use these benchmarks to build their portfolios. Dropping out of such an index can influence investment flows and stock prices.
New MSCI Rules for Crypto Companies
The latest review follows new measures proposed by MSCI in October. The index provider now evaluates whether a company maintains substantial operating assets and applies five financial ratio tests. Companies that fail at least four criteria may be removed from the MSCI Global Investable Market Indexes.
A company that fails at least four criteria across consecutive annual reporting periods may face removal from the MSCI Global Investable Market Indexes.
Strategy's Accumulation Continues
Strategy continues to accumulate Bitcoin despite the crypto market staying in the red zone. Between November 2 and November 8, 2026, the company acquired another 1,036 BTC at an average price of $79,012. As of November 12, Strategy holds 850,364 BTC and reported about $5.5 billion in USD reserves.
However, Bitcoin's recent decline below $75,000 pushes Strategy's holdings into an unrealized loss of $500 million. Strategy's stock (MSTR) fell 7% on Thursday, while Bitcoin is down 3.5% at the time of writing.
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