MSCI Is Removing Strategy, Holder of 850,364 Bitcoin, From Its Indexes. Will Saylor Have to Sell BTC?

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MSCI (NYSE:MSCI | MSCI Price Prediction) has announced it’s removing Michael Saylor’s Strategy Inc. (NASDAQ:MSTR) and several other companies from its global indexes. This decision is based on the view that these companies resemble investment funds more than traditional operating businesses. MSCI builds the stock indexes that many index funds copy, so the decision reaches the largest corporate holder of Bitcoin (CRYPTO:BTC).

Strategy held 850,364 Bitcoin as of November 8, 2026, at an average purchase price of $75,456 per coin, according to its November 9 8-K filing. Bitcoin is trading at around $71,300, down 3.9% in the last 24 hours, which puts Strategy’s Bitcoin at approximately $60.6 billion. Strategy’s shares fell 6.7% to $114 in the session and are down 19.9% over the past week. So could MSCI’s decision force Strategy to sell its Bitcoin?

MSCI Drops Strategy at the November 30 Close, So Index Funds Must Sell Shares

In October, MSCI announced that non-operating companies would no longer qualify for its Global Investable Market Indexes, effective at the close of November 30. The final list included Strategy among the removals, a risk we highlighted when MSCI first challenged its status. Since index funds hold whatever their benchmark lists, funds tracking MSCI’s indexes must now sell their shares of Strategy to other investors.