Strategy retains its seat on the Nasdaq 100 Index! Michael Saylor: Will continue to hoard Bitcoin until the market shuts up
Good news comes from Strategy, the world’s largest Bitcoin company holder: it successfully maintained its seat on the Nasdaq 100 Index and avoided the crisis of being eliminated. However, this victory is only a temporary respite. The business model controversy hidden behind it and the upcoming review by MSCI still make the future of this "Bitcoin hoarding giant" full of variables.
(Previous summary: MicroStrategy requires MSCI index to withdraw the proposal to "remove MSTR": the 50% currency holding red line is baseless, which is stifling American innovation!)
(Background supplement: Strategy CEO: Only if MicroStrategy mNAV falls below 1 And only when financing is cut off will Bitcoin be sold, how is the market net value calculated? )
According to a report by Reuters yesterday (13th), MicroStrategy (formerly MicroStrategy), the dominant Bitcoin holdings among listed companies in the world, successfully retained its seat in the Nasdaq 100 Index on Friday, extending its year-long membership in this benchmark index.
This is the company’s first annual test since joining the Nasdaq 100 in December 2024, and despite previous analyst concerns that its falling stock price and Bitcoin reserve model could lead to its removal, there were no changes in the end. The decision was announced on December 12 and will officially take effect on December 22, and Strategy will remain in the technology-heavy benchmark index.
Michael Saylor: Will continue to hoard Bitcoin
Regarding this good news, Strategy founder Michael Saylor also issued an article through the
The Bitcoin hoarding will continue until the complaining stops. https://t.co/bxdTH8HAzq
— Michael Saylor (@saylor) December 13, 2025
Market concerns have not dissipated
However, market concerns about micro-strategies have not dissipated. Many analysts and market observers believe that Strategy's "buy and hold Bitcoin" strategy makes it more similar to a Bitcoin leveraged investment vehicle or closed-end fund than a traditional software or operating company. Its Bitcoin holdings exceeded 660,000 as of December 2025, far exceeding the company's other holdings and fueling an ongoing debate over its suitability for inclusion in mainstream stock indexes.
At the same time, the market’s concerns about the long-term sustainability of “Digital Asset Treasury companies” that hold large amounts of crypto assets are also rising, especially in the context of increased Bitcoin price volatility in 2025. Since the stock prices of these companies are highly linked to Bitcoin, their volatility risks are easily amplified.
In addition to the Nasdaq 100 Index, the global index compilation agency MSCI has recently been evaluating whether to exclude companies (including Strategy, etc.) whose crypto assets account for more than 50% from its major indexes (such as MSCI USA, MSCI World) on the grounds that such companies may be closer to investment funds than operating companies.
Although Strategy has formally written to object and actively communicated with MSCI, the outcome is still full of uncertainty, and the final decision is expected to be announced on January 15, 2026 (if implemented, it will take effect when the index is adjusted in February). Overall, Strategy has gained stability on the Nasdaq 100 in the short term, but MSCI's decision will be a key watch in early 2026.
