MSCI Weighs Strategy’s Bitcoin Treasury Model as Nasdaq 100 Slot Survives 13 December 2025 Review

On 13 December 2025, index providers were shown to diverge over how to treat companies like Michael Saylor’s Strategy, whose market value is closely tied to Bitcoin holdings. Strategy kept its place in the Nasdaq 100 despite its Bitcoin-focused balance sheet, while an upcoming MSCI ruling could label such digital asset treasury firms as ineligible and, according to analyst estimates, may trigger over $1.5 billion in forced outflows from funds tracking those benchmarks.