Strategy successfully retained its spot in the Nasdaq 100 after its first year on the benchmark, becoming the largest corporate holder of Bitcoin. Despite this, Strategy shares dropped by 3.74%, continuing a downward trend with a loss of over 15% in the last month. Source: Google Finance.

Strategy faces potential exclusion from the Nasdaq 100 due to its unusual business model, which raises questions about whether it operates as a firm or an investment vehicle. MSCI is reviewing companies with significant digital asset holdings, with a possible exclusion if crypto assets exceed 50% of total assets. JPMorgan warns of potential forced selling of Strategy shares worth $2.8 billion by passive funds.

In response to market concerns, Strategy raised $1.44 billion to address fears about meeting dividend and debt obligations. CEO Phong Le pushed back against FUD, emphasizing the company’s ability to fulfill obligations. Michael Saylor highlighted efforts to attract institutional capital to Bitcoin by positioning it as “digital capital” and advocating for new financial products built on the asset.

Read more at Cointelegraph: Strategy Keeps Nasdaq 100 Spot Despite Concerns Over Its Bitcoin Holdings