Strategy is urging MSCI to retain MSTR in its indexes, despite raising its Bitcoin holdings to 650,000 BTC as it has lowered its 2025 targets.
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Michael Saylor’s Strategy is not giving up on efforts to keep its common A stock (MSTR) part of the MSCI indexes after the stock entered the MSCI World Index during the Bitcoin rally in 2024.
Amid MSCI Global Standard Indexes and other digital asset treasuries (DATs) from its indexes, Strategy’s Saylor said the company is communicating with the index provider about the issue, Reuters on Wednesday.
“We’re engaging in that process,” the Strategy founder said, adding that he “was not sure” about the accuracy of JPMorgan’s reported estimations that a potential exclusion from the MSCI could $2.8 billion of outflows.
MSCI initially the addition of MSTR into its indexes in May 2024, with the stock becoming one of the three largest additions to the MSCI World Index.
What is the MSCI World index?
in 1986 by its original operator, Morgan Stanley Capital International (MSCI), the MSCI World index is a widely followed global stock market index that tracks the performance of more than 1,300 large and mid-cap companies across 23 developed markets.
Among its top constituents, the MSCI World index includes tech giants such as Nvidia and Apple, which together account for more than 10% of the index.
Strategy’s MSTR became part of the MSCI World index in May 2024, about three years after the company began accumulating Bitcoin () as part of its DAT strategy, by which point it had 214,000 BTC.
DATs have been plummeting after booming in July 2025
After booming in July 2025, many DATs, including Strategy and other companies like Japanese Metaplanet, have been struggling, with stocks plunging to multimonth lows.
By mid-October, Metaplanet’s enterprise value , marking unprecedented development with .
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On Oct. 10, MSCI an official announcement on potential exclusion of DATs from its indexes, with the consultation remaining open until Dec. 31, 2025, and final conclusions coming by Jan. 15, 2026.
Addressing the question of DATs’ stock volatility, Saylor said that equity is “going to be volatile because the company is built on amplified Bitcoin.”
“If Bitcoin falls 30%, 40% then the equity is going to fall more, because the equity is built to fall,” he reportedly said on the sidelines of a Binance event in Dubai on Wednesday.
On Monday, Strategy to support dividend payments on its preferred stock and interest on its outstanding debt.
The company has also increased its holdings to a symbolic milestone of 650,000 BTC, even as it significantly lowered its KPI targets for 2025 amid Bitcoin’s decline below $90,000.
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