MSCI Inc. has removed Strategy Inc. from its global equity benchmarks, a move that could lead to billions of dollars in stock sales. The change is part of MSCI's updated eligibility rules, which now exclude companies classified as non-operating businesses. The decision was announced in the November 2026 Index Review for the MSCI Equity Indexes, released on Wednesday.
The exclusion of Strategy Inc. from the MSCI USA Index may also add pressure to the financing model behind Michael Saylor’s extensive Bitcoin holdings. MSCI had previously stated that it would implement the new framework by the end of November 30.
The removal of Strategy Inc. is not an isolated incident. MSCI is applying the new rules to other firms as well, signaling a broader shift in its approach to index composition. The impact of these changes on the market remains to be seen, but the potential for significant stock sales is a notable development.