Strategy Under Threat: MSCI's New Rule Sparks Fear of Forced Selling
The corporate Bitcoin treasury strategy led by Michael Saylor's company is facing a new threat from MSCI, an index provider that could push Strategy out of major global indexes. This comes after a similar proposal in October 2025 sparked a $19 billion liquidation event and a significant drop in Bitcoin's price.
MSCI had previously dropped the crypto-specific proposal due to concerns it unfairly targeted companies holding digital assets. However, the new rule targets 'Non-Operating Companies' that mainly hold assets rather than running a normal business.
The rule applies five tests to determine if a company is operating as expected. Strategy has already failed one of these tests using May 2026 data, which could lead to its removal from major indexes and create selling pressure on Bitcoin.