Strategy, the world’s largest corporate Bitcoin holder, finds its monumental 713,502 BTC treasury, valued at $59.75 billion, underwater as Bitcoin’s price decline below its $76,052 average purchase cost triggers $17.4 billion in Q4 operating losses. Despite these paper losses, the company’s 2025 performance showcased a 22.8% BTC yield and aggressive capital raising, underscoring the high-stakes financial experiment of a corporate pivot entirely to cryptocurrency.
about Strategy's $59.75B Bitcoin Treasury Underwater as BTC Drops Below Cost
MSCI
Bitcoin’s Evolution: From Digital Cash to Savings Asset & L2 Needs
Bitcoin is increasingly viewed not as digital cash but as a modern savings tool in an inflationary world. However, experts argue this framing is incomplete—BTC must evolve through layer-2 solutions to function as usable money. Meanwhile, large institutional purchases are quietly building a bullish case for Bitcoin’s price trajectory.
about Bitcoin's Evolution: From Digital Cash to Savings Asset & L2 NeedsMorgan Stanley ETF & MSCI Index Shift Spark Market Manipulation Claims
A coordinated sequence of high-stakes institutional moves involving Morgan Stanley and index provider MSCI has ignited serious allegations of potential market manipulation in the cryptocurrency sector. Analysts from Bull Theory present a compelling timeline suggesting that actions by these financial giants may have artificially suppressed Bitcoin’s price throughout late 2023 before strategically reversing course, positioning connected entities to profit from the subsequent rebound. This controversy raises profound questions about the integrity of institutional involvement in digital asset markets.
about Morgan Stanley ETF & MSCI Index Shift Spark Market Manipulation ClaimsMSCI Keeps Crypto Treasury Firms in Indexes, Averting $15B Sell-Off
In a pivotal decision for institutional crypto adoption, index provider MSCI has opted against excluding digital asset treasury companies from its global benchmarks, removing a potential $15 billion forced selling overhang. The ruling, announced Tuesday, preserves crucial access to passive investment capital for firms like MicroStrategy and is widely viewed as a bullish development for cryptocurrency markets, despite Bitcoin’s muted immediate price reaction.
about MSCI Keeps Crypto Treasury Firms in Indexes, Averting $15B Sell-OffMSCI Defers Crypto Firm Index Decision to 2026, Easing Sell-Off Fears
Global index provider MSCI has deferred any changes to how it classifies companies with major cryptocurrency holdings until at least February 2026, maintaining the status quo after a consultation revealed deep-seated investor concerns. The decision, which centers on whether firms holding digital assets like Bitcoin resemble operating businesses or investment vehicles, provides immediate relief for companies like Strategy by removing the near-term threat of forced, index-driven selling. The move underscores the ongoing debate about the legitimacy and sustainability of the digital asset treasury corporate model within traditional finance.
about MSCI Defers Crypto Firm Index Decision to 2026, Easing Sell-Off FearsMicroStrategy’s Bitcoin Bet Faces MSCI Delisting Threat
MicroStrategy’s aggressive Bitcoin accumulation strategy is colliding with traditional finance rules as the company faces potential removal from the MSCI index. While the firm now holds nearly 680,000 BTC, its stock has plummeted over 50% in 2025. This clash between crypto adoption and institutional frameworks could trigger billions in forced selling.
about MicroStrategy's Bitcoin Bet Faces MSCI Delisting ThreatStrategy Boosts Bitcoin Holdings to 673,800 BTC, Expands Cash Reserve
Strategy, the Virginia-based firm synonymous with corporate Bitcoin accumulation, has deployed another $116 million to purchase the cryptocurrency while significantly expanding its cash war chest. The company announced its USD Reserve has grown to $2.25 billion, funded exclusively through common stock issuance—a shift from its recent reliance on preferred shares. This dual move comes as Strategy navigates a steep stock price decline and the looming threat of exclusion from major financial indices, a scenario analysts warn could trigger billions in investor outflows.
about Strategy Boosts Bitcoin Holdings to 673,800 BTC, Expands Cash ReserveStrategy Buys $980M Bitcoin, Stock Down 53%
Strategy, the corporate Bitcoin treasury giant formerly known as MicroStrategy, has executed its second consecutive weekly purchase of nearly $1 billion worth of BTC, solidifying its aggressive accumulation strategy even as its own stock price collapses. The firm now holds a staggering $60 billion in Bitcoin, but its shares have lost more than half their value in six months, creating a stark divergence between its crypto holdings and market valuation. This buying spree, funded by nearly $1 billion in stock sales, unfolds against a backdrop of falling Bitcoin prices and a contentious fight with index provider MSCI over what Strategy frames as a matter of national security.
about Strategy Buys $980M Bitcoin, Stock Down 53%Strategy Opposes MSCI Plan to Exclude Bitcoin Firms from Indexes
Strategy, the company formerly known as MicroStrategy, is mounting a vigorous defense against a proposal by global index provider MSCI that would exclude firms with concentrated Bitcoin holdings from its benchmarks. In a formal letter, the company argues the rule is a “discriminatory and arbitrary” measure that misunderstands the nature of digital asset businesses, unfairly targets them compared to traditional industries, and risks triggering billions in forced selling while stifling U.S.-backed innovation in the cryptocurrency sector.
about Strategy Opposes MSCI Plan to Exclude Bitcoin Firms from IndexesBitcoin Firm Warns MSCI Crypto Ban Threatens U.S. National Security
A leading Bitcoin investment firm has issued a stark warning to global index provider MSCI, arguing that its proposal to exclude crypto-heavy companies from its indices poses a direct threat to U.S. national security and innovation. In a 12-page letter, Strategy contends the move contradicts the Trump administration’s pro-digital asset policies, could trigger billions in outflows, and risks damaging MSCI’s regulatory standing. The confrontation highlights the deepening rift between traditional financial gatekeepers and the burgeoning crypto ecosystem.
about Bitcoin Firm Warns MSCI Crypto Ban Threatens U.S. National SecurityStrategy Challenges MSCI’s Crypto Exclusion Proposal
Strategy, the world’s largest Bitcoin treasury company, has launched a formal challenge against index giant MSCI over a proposed policy that would bar firms with substantial cryptocurrency holdings from its influential stock market benchmarks. In feedback submitted this week, Strategy contends that digital asset treasury companies are legitimate operating businesses and that the rule represents a prejudicial stance against crypto as an asset class, undermining MSCI’s role as a neutral arbiter. This dispute underscores a critical fault line emerging between traditional financial infrastructure providers and the corporate adoption of digital assets.
about Strategy Challenges MSCI's Crypto Exclusion ProposalStrive Urges MSCI to Keep Bitcoin Firms in Indexes
A brewing conflict between traditional finance and the emerging digital asset sector has reached a critical juncture as Strive CEO Matt Cole publicly challenges MSCI’s proposed exclusion of Bitcoin-heavy companies from its influential indexes. The move, which targets firms holding digital assets exceeding 50% of their total holdings, threatens to strip billions in passive investment capital from the crypto sector and limit mainstream investor exposure to one of finance’s fastest-growing frontiers. With JPMorgan analysts warning of massive potential outflows, the debate underscores a fundamental tension: should index providers curate exposure or, as Strive argues, let the market decide?
about Strive Urges MSCI to Keep Bitcoin Firms in Indexes