Yeliz Akmaca 
Michael Saylor Strategy faces significant pressure as the cryptocurrency market continues its sharp decline. The company risks being removed from the Nasdaq 100 and other major indices, which could directly impact investor confidence and liquidity.
Nasdaq and MSCI Review Strategy’s Inclusion
According to Bloomberg, both MSCI and Nasdaq are reviewing whether Strategy should remain in their indices. MSCI, in particular, advises investors on whether companies holding a large portion of assets in digital currencies should continue to be listed in major indices. Some experts argue that such companies resemble investment vehicles rather than operational businesses. The final decision is expected on January 15.
-
If removed from indices, passive funds could see outflows of up to $2.8 billion.
-
Total index exposure of the company is approximately $9 billion.
-
JPMorgan analysts warn that removal may reduce liquidity and funding access.
Market Downturn Pressures Stock Prices
Recently, the sharp decline in the crypto market has negatively affected Strategy’s stock. Since the record highs in November, shares have lost over 60% of their value. This drop has also affected the company’s preferred stock prices, reducing the attractiveness of new financing tools. Bitcoin, meanwhile, has fallen more than 32% since its October peak, and the total cryptocurrency market has lost over $1 trillion in value.
Michael Saylor insists that the company is structurally designed to withstand extreme volatility. He emphasizes that Strategy could manage an 80–90% decline in Bitcoin without facing existential risk.
Strategy’s Market Position and Outlook
Previously, some optimism suggested that Strategy could enter the S&P 500. The company’s market cap and trading liquidity currently meet index eligibility thresholds. However, Nasdaq 100 and MSCI decisions remain critical for visibility and investor demand.
-
Index decisions can influence investor confidence.
-
Crypto market volatility has reduced the company’s valuation premium.
-
Strategy’s liquidity and funding access are being tested in this period.
These developments send important signals to investors interested in the cryptocurrency market and blockchain regulations. Investors continue to closely monitor index decisions and Strategy’s market position.