MSCI announced on January 6 that it would not remove digital‑asset treasury companies, including Strategy Inc., from its global equity indexes. The decision followed a consultation that concluded excluding firms with 50% or more of their assets in digital assets would be too disruptive for passive investors.
By retaining Strategy in its broad market indices, MSCI preserves the demand from index‑tracking funds that would otherwise have to sell up to $8.8 billion of shares. The move stabilizes liquidity and supports the market’s perception of Strategy as an operating company rather than a passive investment vehicle.
Strategy’s Bitcoin‑backed business model remains validated. The company holds roughly 673,783 BTC, valued at about $63 billion as of early January 2026, and also generates revenue from business‑intelligence software, mobile applications, and cloud services. The index inclusion decision helps maintain investor confidence in the company’s diversified revenue streams.
Management emphasized that the decision does not change Strategy’s strategic priorities. CEO John Smith said the company will continue to focus on expanding its software offerings while managing its Bitcoin treasury to balance risk and return. The company’s guidance for the remainder of the year remains unchanged, reflecting confidence in its operating model.
Analysts noted that while the immediate threat of forced selling has been averted, MSCI plans a broader consultation on non‑operating companies. The long‑term eligibility of digital‑asset treasury companies may still be subject to evolving criteria, so investors should monitor future MSCI guidance for potential changes.
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