According to Reuters, Strategy remains in the Nasdaq 100 index and will continue its position for 12 months. Global index provider MSCI will also decide in January whether to exclude Strategy and similar companies from its benchmarks. The Nasdaq adjustment will take effect on December 22.
Bitcoin hoarding giant Strategy (MSTR.O), opens a new tab clung to its place in the Nasdaq 100 (.NDX), opens a new tab on Friday, continuing its year-long stint in the benchmark at a time where analysts have raised questions over its business model.
Some market watchers have suggested Strategy's pioneering business model of buying-and-holding bitcoin, which has spawned dozens of copycats, more closely resembles that of an investment fund.
Concerns have grown over the sustainability of crypto treasury companies, whose shares have proved extremely sensitive to bitcoin's gyrations
Strategy started out as a software company, MicroStrategy, but pivoted to bitcoin investing in 2020. It was included in the Nasdaq 100 last December under the index's technology sub-category.
The Nasdaq changes are expected to take effect on December 22. The Nasdaq 100 index tracks the largest non-financial companies by market capitalization listed on the exchange.
