MSCI approved rules that could remove Strategy from its Global Investable Market Indexes, with changes taking effect after the Nov. 30 market close. JPMorgan analysts estimated in November 2025 that removal could trigger approximately $2.8 billion in passive selling of MSTR shares. Bitcoin analyst Adrian Morris argued that normal trading and scheduled rebalancing could absorb index-related selling without an existential liquidity problem. However, Coin Bureau CEO Nic Puckrin warned that sustained selling could reduce MSTR's premium to its Bitcoin holdings and weaken funding for future Bitcoin purchases. Strategy's latest disclosure reported purchases of 250 BTC for $21.5 million during the week ending Oct. 11, funded primarily through common-share sales.