Bitcoin · JPMorgan · Strategy · CryptoSlate
MSCI’s new rules could squeeze Strategy’s Bitcoin buying machine
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MSCI approved rules threatening Strategy's index membership as its shares trade nearly 69% below their peak.
Key facts
- The transactions brought Strategy's holdings to 848,250 BTC, acquired for approximately $64 billion, while its dollar reserve stood at $4.88 billion
- According to figures he shared, Strategy generated approximately $565.25 billion in dollar trading volume this year, averaging $2.91 billion daily and $13.79 billion weekly
- In its latest disclosure, the company reported acquiring 250 BTC for $21.5 million during the week ending Oct. 11, funded primarily through $21 million raised by selling common shares
- JPMorgan analysts estimated in November 2025 that MSCI removal could trigger approximately $2.8 billion in passive selling of MSTR shares
Summary
01 MSCI adopted new eligibility rules for non-operating companies; the final affected constituents will be announced on Nov. 11. 02 A November 2025 JPMorgan scenario estimated $2.8 billion in MSTR selling if MSCI removed Strategy. 03 A smaller MSTR premium could make common-stock funding for Bitcoin purchases less attractive. On Oct. 15, the global index provider announced that it would adopt a new methodology excluding companies classified as non-operating businesses from its Global Investable Market Indexes.