Strategy Faces Potential MSCI Index Removal

MSCI has officially adopted new index eligibility rules that could result in Michael Saylor’s Strategy being removed from its global equity indexes.

The decision creates another major risk for MSTR shareholders, but Strategy’s removal is not official yet.

MSCI will announce the final list of affected companies on November 11, with the new methodology taking effect following the market close on November 30, 2026.

Why Strategy Could Be Removed

MSCI’s new methodology targets companies it considers “non-operating companies.”

The process includes:

• An initial test determining whether a company has substantial operating assets
• Five additional financial-ratio tests for companies that fail the first screen
• A company being considered ineligible if it triggers at least four of the five tests
• Additional buffers designed to prevent companies from constantly entering and leaving MSCI indexes

Existing index members must fail the eligibility screening across their two most recent annual filing periods before being removed.

Strategy was identified as a potential deletion when MSCI simulated the proposed methodology using May 2026 data. Metaplanet and Yellow Cake were also identified as potential removals.

What Could Happen to MSTR Stock?

The biggest immediate concern is forced selling.

Funds designed to track MSCI indexes may have to sell MSTR if Strategy is ultimately removed. JPMorgan analysts have previously estimated that an MSCI exclusion could produce approximately $2.8 billion in passive outflows from MSTR.

Strategy itself has acknowledged this general risk. The company warned in its annual report that exclusion from major indexes could cause index funds and institutional investors to sell MSTR, potentially hurting the stock’s price and liquidity.

However, index removal would not change Strategy’s underlying Bitcoin holdings or prevent the company from continuing its Bitcoin treasury strategy.

November 11 Is the Next Key Date

MSTR investors should now circle November 11, 2026.

That’s when MSCI plans to publish the final list of companies potentially affected by the new methodology.

If Strategy appears on that list and is confirmed for removal, the next major date would be November 30, when the November index review takes effect after the market closes.

Until November 11, it’s more accurate to say that MSTR faces potential MSCI index removal—not that Strategy has already been removed.