JPMorgan Says Saylor’s Strategy Could See Billions in Outflows if MSCI Excludes MSTR

Bitcoin Magazine JPMorgan Says Saylor’s Strategy Could See Billions in Outflows if MSCI Excludes MSTR

Strategy — the original “bitcoin-on-NASDAQ” proxy — is now facing its most consequential structural risk since Michael Saylor began converting the firm into a leveraged BTC holding vehicle five years ago.

A new JPMorgan research note warns that Strategy is “at risk of exclusion from major equity indices” as MSCI approaches a key January 15 decision on whether companies with large digital-asset treasuries belong in traditional stock benchmarks.

MSCI is weighing a rule that would remove companies whose digital-asset holdings exceed 50% of total assets — a category in which Strategy sits at the extreme.

With the company’s market cap hovering around $59 billion and nearly $9 billion held i