Strategy is being lined up for exclusion from MSCI indices. Just as expected. Potential stock sales are estimated at $2.8 billion.

Mike Saylor’s company, the largest corporate holder of #BTC, has been placed on MSCI’s preliminary list for exclusion from global stock indices.

The reason is new rules approved by MSCI on October 15, 2026. They restrict the inclusion of companies whose financial metrics look more like those of investment funds than operating businesses.

The restrictions could potentially affect companies whose assets mainly consist of cryptocurrency reserves.

Five companies are on the preliminary list for exclusion, including Strategy and Japan’s Metaplanet.

Let’s recall what this could mean for Strategy.

According to analysts at #JPMorgan, the company’s exclusion from MSCI indexes could trigger approximately $2.8 billion in share sales by investment funds tracking the relevant indexes, as mentioned earlier.

This estimate is based on the previous version of the rules, so the actual volume of sales may differ.

The logic behind these expected sales is simple: passive funds that replicate index compositions are forced to sell shares of companies removed from those indexes.

BUT exclusion from MSCI does not require the company to sell BTC, nor does it mean that MSTR trading on Nasdaq will stop.

The main risk lies elsewhere: pressure on the share price could make it harder to raise new capital through share offerings. Strategy uses this capital, among other things, to buy BTC. As a result, a potential exclusion could weaken one of the mechanisms Saylor’s company uses to finance further BTC accumulation.

The index changes take effect after the market closes on November 30.

BTC has barely reacted to today’s news so far. Although it has once again moved into a clear downtrend on the 5-minute timeframe, with a solid set of additional targets below.