Monday saw Strategy, formerly known as MicroStrategy, make headlines with their latest Bitcoin acquisition. In a filing with the US Securities and Exchange Commission (SEC), the company revealed that they now hold nearly 680,000 BTC, with their current total at 672,497 BTC.
Bitcoin Buys Vs. Stock Struggles
Analysts, such as Lirrato on X, shared that Strategy acquired 22,498 BTC in December alone. With their goal of reaching 680,000 BTC by January in sight, the company needs just 7,503 more coins—a target they surpassed last month.
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Despite their bullish Bitcoin acquisitions, Strategy’s stock (MSTR) has experienced a significant decline, dropping by over 50% throughout 2025 to its current trading price of around $163 on Monday.
Adding to Strategy’s challenges, the possibility of being delisted from the Morgan Stanley Capital International (MSCI) index looms, with a formal announcement expected in just ten days.
In an October proposal, MSCI suggested that companies holding digital assets comprising 50% or more of their total assets should be removed from its global benchmarks. This decision was based on the argument that such companies resemble investment funds, which MSCI excludes from its indexes.
Strategy Braces For Potential Financial Turmoil
Currently, MSCI is undertaking a public consultation, and if it determines that Digital Asset Treasury (DAT) companies like Strategy should be excluded, it could set a precedent for other index providers to follow suit.
In a public letter, Strategy’s CEO, Phong Le, and co-founder Michael Saylor discussed the potential implications of an MSCI exclusion. They estimated that such a decision could result in approximately $2.8 billion worth of the company’s stock being liquidated, potentially impacting the entire industry.
TD Cowen analysts highlighted that around $2.5 billion of Strategy’s market value is linked to MSCI, with an additional $5.5 billion tied to other indexes.
JPMorgan’s analysis indicated that if Strategy were to be excluded from MSCI, the company could face outflows of $2.8 billion, a figure that could rise to $8.8 billion if delisted from other indexes like the Nasdaq 100 and various Russell indexes.
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In addition to these potential hurdles, Strategy may soon have to confront significant financial losses, contrasting sharply with the $2.8 billion profit reported in the previous year’s third quarter.
Furthermore, the Bloomberg Billionaires Index shows a substantial decrease in Michael Saylor’s personal wealth during this downturn, dropping by approximately 40% to about $3.8 billion.
Despite these challenges, Monday witnessed a notable recovery in cryptocurrency prices, with Bitcoin, Ethereum, Binance Coin, Solana, and XRP all surpassing key levels, sparking renewed optimism among investors.
Featured image from DALL-E, chart from TradingView.com