MSCI made its call on companies that mainly hold assets like Bitcoin. They become ineligible for its global indexes, but MSCI hasn't named a single company yet. Strategy and Metaplanet were among three companies its May 2026 simulation flagged for deletion and could be affected when the final list comes out, and current members only get cut if they fail the screens in each of their two most recent annual filing periods. For Bitcoin, any exclusion means forced selling of the stock by index funds, not of the coin. The real test is whether it slows how fast Strategy can raise money to keep buying.