Michael Saylor's Strategy (MSTR) retained its position in the Nasdaq 100 index (an index of the 100 largest and most influential companies on the Nasdaq exchange, excluding banks and financial companies), despite undergoing its annual restructuring with significant changes. This adjustment, effective December 22nd, removed six large companies and added three new ones, but Strategy was not removed.
Originally a software company, Strategy shifted its strategy in 2020 to accumulating Bitcoin. As a result, Strategy's stock price fluctuates sharply with Bitcoin's price, a far cry from its traditional business model.
This has sparked controversy, with many arguing that Strategy resembles a Bitcoin investment fund more than a technology company. Some organizations, such as MSCI, are considering removing companies of this type from their index.
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