Bitcoin-Heavy Balance Sheet Draws Attention as MSCI Reviews Crypto Exposure Rules
Strategy formerly known as MicroStrategy has successfully retained its position in the Nasdaq 100 following the index’s latest annual rebalancing. This marks the company’s first major test since joining the benchmark in December last year, as scrutiny intensifies around firms with significant cryptocurrency exposure.
The most recent Nasdaq 100 adjustment resulted in the removal of several well-known technology and consumer companies, while a new group of industrial and semiconductor firms entered the index. Despite the reshuffle, Strategy remained included, signaling that it continues to meet the benchmark’s eligibility criteria even as its business model diverges from traditional operating companies.
Strategy has become the largest corporate holder of Bitcoin, holding 660,624 BTC valued at nearly $60 billion at current prices. The company’s latest acquisition added 10,624 Bitcoin for approximately $962.7 million. However, market sentiment has remained cautious, with Strategy shares declining more than 15% over the past month and closing the latest session down 3.74%.
MSCI Review Raises Future Index Risks
Attention is now shifting to MSCI, which is reviewing whether to exclude companies whose crypto assets exceed 50% of total holdings. If adopted, this rule could place Strategy at risk as early as January. Analysts have warned that such a decision could trigger forced selling by passive funds.
In response to market concerns, Strategy recently raised $1.44 billion to reinforce its balance sheet and address fears surrounding dividend and debt obligations. Company leadership continues to emphasize that Strategy is an operating enterprise, positioning Bitcoin as “digital capital” and “digital gold” while engaging institutional investors to expand adoption.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.