Strategy (MSTR) Stock Jumps as MSCI Keeps Crypto Treasury Firms in Indexes

TLDR

• MSCI decided to keep digital asset treasury companies (DATCOs) in its global indexes after reviewing investor feedback and determining more research is needed
• Strategy stock jumped 5-6% in after-hours trading following the announcement after falling 4.1% during regular trading hours
• Companies with digital assets representing 50% or more of total assets will maintain their current index status while MSCI conducts further consultations
• The decision prevents Strategy and similar firms from losing billions in passive capital inflows that would have resulted from index exclusion
• Over 190 publicly traded companies now hold Bitcoin on their balance sheets, with many adding crypto treasuries in 2024 and 2025

Strategy shares climbed 6% in after-hours trading Tuesday after MSCI announced it would keep digital asset treasury companies in its market indexes. The move protects billions in passive investment flows for Michael Saylor’s firm.

Strategy Inc, MSTR

MSCI released a statement Tuesday saying digital asset treasury companies would remain in its global indexes. The indexing giant needs more time to research these firms before making eligibility changes.

Strategy stock had dropped 4.1% during Tuesday’s regular trading session. The after-hours rally came right after MSCI’s announcement.

The company defines digital asset treasury companies as firms where crypto makes up 50% or more of total assets. Strategy holds 673,783 Bitcoin, the largest crypto treasury position worldwide.

Why Index Status Matters

Index inclusion affects billions in passive investment flows. Passive index funds track MSCI’s benchmarks, meaning exclusion would have cut off major capital sources for these companies.

Exclusion would have forced funds to sell Strategy shares and other crypto treasury stocks. That selling pressure could have pushed prices down further.

Other crypto treasury firms also gained in after-hours trading. Bitmine Immersion, Sharplink, and Twenty One Capital all posted increases following the news.

MSCI said distinguishing between investment companies and operating companies holding digital assets requires additional study. The firm plans broader consultations to establish clear criteria.

Crypto Treasury Trend Grows

Building crypto treasuries became popular among public companies in 2024 and 2025. More than 190 publicly traded companies now hold Bitcoin on their balance sheets.

Many firms launched treasuries for Ethereum, Solana, and other cryptocurrencies over the past year. The strategy involves buying and holding digital assets as a core business activity.

Some of these stocks fell in late 2024 as investors questioned the treasury model’s sustainability. Strategy shares faced pressure from both weak Bitcoin prices and uncertainty about MSCI’s decision.

Bitcoin added about 1% following the MSCI announcement. The cryptocurrency traded around $93,500 after the news broke.

MSCI will look at financial statement indicators and other metrics to assess eligibility going forward. For now, all companies on MSCI’s preliminary list of digital asset treasury firms keep their index status unchanged.

The continued inclusion sustains demand and liquidity for these stocks. It also helps broaden institutional ownership of digital assets through passive investment vehicles.

“This broader review is intended to ensure consistency and continued alignment with the overall objectives of the MSCI Indexes, which seek to measure the performance of operating companies,” MSCI stated in its announcement.

Strategy currently holds 673,783 Bitcoin, making it the world’s largest corporate Bitcoin holder. The company trades around $93,500 following Tuesday’s after-hours gains.

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