MSCI boots bitcoin-heavy firms from indexes, Strategy stock tumbles

MSCI finalized rules on October 15 that bar “non-operational” companies from its global indexes, replacing an earlier 50 % digital-asset threshold. Strategy, Metaplanet and Yellow Cake are set to be removed, while Sharplink, Ton Strategy and DeFi Development landed on a watch list. The changes take effect November 30 after the final list drops on November 11.

Markets moved fast. Strategy shares dropped nearly 10 % right after the announcement and closed at $121.07 on November 10, down from $145.16 on October 28. Bitcoin slipped alongside and is now hovering near $73,700.

JPMorgan had flagged roughly $2.8 billion in potential selling by MSCI-tracking funds if Strategy is kicked out. The company itself said in August that those funds already held 13 million shares, or 3.1 % of its stock. Last week Strategy still added 1,036 BTC, bringing its total to 850,364 coins, funded by selling its own shares.

Executive Chairman Michael Saylor and CEO Phong Le called the policy discriminatory, yet Strategy has already diluted shares by 36 % since the start of 2026 to keep buying bitcoin without selling any.

Based on information from cryptonews.net