As reported on November 12, 2026, at 09:07 (UTC+8), Odaily, citing Bloomberg, said MSCI had removed Japanese Bitcoin-treasury company Metaplanet from its Japan Small Cap Index and had decided to remove Strategy from the MSCI USA Index. The changes were part of MSCI’s November 2026 index review and were set to take effect after the November 30 close.
MSCI had previously announced a framework for excluding companies classified as non-operating businesses. Metaplanet CEO Simon Gerovich said the change would not materially affect the company’s business or Bitcoin strategy. Strategy co-founder Michael Saylor had earlier criticized what he described as MSCI’s biased value judgment about digital assets.
The risk for Strategy is not a documented sell-off, but potential selling by passive funds that track the affected indexes. That could add pressure to its model of raising money for further Bitcoin purchases by issuing securities, including common and preferred stock, at a premium. JPMorgan estimated in 2025 that removal from relevant indexes could trigger up to $2.8 billion in Strategy share sales, potentially rising to $8.8 billion if other indexes followed. Those figures are estimates, not reported sales.