Strategy to Be Removed From MSCI Index, Raising Bitcoin Buying Concerns

Strategy, the world’s largest corporate holder of Bitcoin, is facing concerns that its ability to continue accumulating the cryptocurrency could weaken after being removed from a major global equity index. MSCI, the global index provider, released the results of its November 2026 Index Review on Nov. 11 (local time), confirming that Strategy would be excluded from the MSCI USA Index. The decision follows a new methodology that restricts the inclusion of “non-operating companies” — businesses whose financial asset holdings outweigh their actual operating activities.

Despite the announcement, the digital asset market has remained mixed, with no sharp sell-off. As of 9:25 a.m. on Nov. 12, Bitcoin was trading around $74,000, up 0.71% from 24 hours earlier. Ethereum and Solana edged higher, while XRP and Tron declined. Hyperliquid gained 1.72%, reflecting mixed performance among major altcoins. Market analysts believe much of the negative impact had already been priced in after MSCI announced its new classification framework last month.

Selling pressure from the index removal is expected to weigh on Strategy shares. JPMorgan estimated that the exclusion could trigger up to $2.8 billion in selling by funds tracking the MSCI USA Index. If other major index providers take similar action, potential outflows could reach as much as $8.8 billion, according to market estimates. The changes will take effect after the close of U.S. markets on Nov. 30.