MSCI reopened a consultation in August 2026 on the eligibility of non-operating companies, threatening to remove Strategy (formerly MicroStrategy) from its benchmarks. The company, the world’s largest corporate Bitcoin holder, had already faced estimated passive outflows of $2.8 billion during the initial proposal in October 2025. This time, MSCI uses quantitative screens: companies whose operating assets fall below 50% of total assets fail a core test, and four additional failures render a firm ineligible. The consultation closes September 30, results are expected October 16, with any changes targeting the November 2026 index review. Bitcoin currently trades around $62,849, roughly 50% below the record high above $126,000 reached in October 2025.
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