Bitcoin and Strategy teeter on the fine line of fear

Strategy and other treasury companies (DAT) could be reclassified as investment funds, affecting their market reach. The expulsion or permanence of Strategy could be finalized on January 15, 2026.

Michael Saylor stated that his company is neither a fund nor a trust.

Is Microstrategy, now known as Strategy, on the verge of a reclassification that could expel it from the main stock indices? Uncertainty surrounds the company led by Michael Saylor after speculations about its status as a financial entity, a debate that has ignited social media.

The announcement by MSCI on October 10 about an extension of the review of its classification, along with warnings from analysts such as those from JP Morgan, has generated confusion about whether the company, with its massive bet on bitcoin as a productive capital asset, fits within the traditional parameters of an index. In the meantime, Saylor defends his vision of Strategy as an innovative, operationally focused company, far from being a simple fund or trust.