Michael Saylor’s Strategy is steadfast in its attempts to maintain inclusion of its common A stock (MSTR) within the MSCI indexes, following the stock’s entry into the MSCI World Index during the Bitcoin surge in 2024.
As MSCI Global Standard Indexes conducts consultations to determine whether to remove MSTR and other digital asset treasuries (DATs) from its indexes, Saylor stated that the company is engaged in discussions with the index provider regarding this matter, as reported by Reuters on Wednesday.
“We’re participating in that process,” the Strategy founder noted, expressing uncertainty about the validity of JPMorgan’s reported assessments that a potential exclusion from the MSCI might initiate $2.8 billion in outflows.
MSCI first announced the inclusion of MSTR in its indexes in May 2024, with the stock being one of the three largest additions to the MSCI World Index.
What is the MSCI World Index?
Introduced in 1986 by its original operator, Morgan Stanley Capital International (MSCI), the MSCI World index is a prominent global stock market index that tracks the performance of over 1,300 large and mid-cap companies across 23 developed markets.
Among its top constituents, the MSCI World index features tech leaders like Nvidia and Apple, which collectively comprise more than 10% of the index.
Strategy’s MSTR became part of the MSCI World index in May 2024, roughly three years after the company began amassing Bitcoin (BTC) as part of its DAT strategy, during which it had acquired 214,000 BTC.
DATs Have Notably Declined After a Surge in July 2025
After experiencing a surge in July 2025, numerous DATs, including Strategy and other firms like Japanese Metaplanet, have faced challenges, with stock prices dropping to multi-month lows.
By mid-October, Metaplanet’s enterprise value fell below the worth of its BTC holdings, representing an unprecedented shift with significant repercussions for the broader DAT sector.
Related: Strategy may sell Bitcoin as a ‘last resort’ if mNAV declines and capital is scarce: CEO
On Oct. 10, MSCI issued an official notice regarding the potential exclusion of DATs from its indexes, with consultations open until Dec. 31, 2025, and final determinations expected by Jan. 15, 2026.
Regarding the volatility of DATs’ stock, Saylor remarked that equity is “bound to be volatile because the company is predicated on amplified Bitcoin.”
“If Bitcoin drops by 30% or 40%, then the equity is going to decline even more, as the equity is structured to fall,” he reportedly stated during a Binance event in Dubai on Wednesday.
On Monday, Strategy unveiled a $1.44 billion US dollar reserve to facilitate dividend payments on its preferred stock and interest on its outstanding debt.
The company has also boosted its holdings to a noteworthy total of 650,000 BTC, even as it significantly revised its KPI targets for 2025 due to Bitcoin’s drop below $90,000.
Magazine: Bitcoin whale Metaplanet ‘underwater’ but targeting more BTC: Asia Express
