Strategy Holds Nasdaq-100 Slot—Saylor Says 'Bitcoin Hoarding Will Continue'

Nasdaq-100 Retention Boosts Confidence in Strategy’s Bitcoin Thesis

Confidence in corporate bitcoin strategies strengthened after the Nasdaq-100 reconstitution, as Strategy’s position in the benchmark held firm. Strategy Executive Chairman Michael Saylor shared on social media platform X on Dec. 13 a bullish response underscoring the company’s conviction and continued acceptance within major equity indexes.

Saylor said:

The bitcoin hoarding will continue until the complaining stops.

He posted the remark alongside a Reuters report examining why Strategy (Nasdaq: MSTR) remained in the Nasdaq-100 despite its evolution into the largest corporate holder of bitcoin, with 660,624 BTC on its balance sheet. The report noted that while some analysts argue the company increasingly resembles an investment fund tied to bitcoin price movements, Strategy continues to qualify under the Nasdaq-100’s rules-based methodology. This followed criticism from index providers such as MSCI, which have suggested that firms with similar digital asset structures could face exclusion from certain benchmarks beginning in January 2026.

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Nasdaq published its annual Nasdaq-100 reconstitution on Dec. 12, with changes set to take effect prior to market open on Dec. 22. The Nasdaq-100 tracks 100 of the largest non-financial companies listed on its exchange and is reconstituted each December to reflect market capitalization and liquidity requirements.

Strategy’s retention, despite widespread pre-announcement speculation that its bitcoin-heavy model could prompt removal, reinforced the index’s mechanical selection process and drew renewed attention to Saylor’s long-running bitcoin thesis. Since adopting bitcoin as its primary treasury reserve asset in 2020, Strategy has helped catalyze broader corporate adoption while also introducing equity volatility tied to crypto market cycles. Supporters argue that continued inclusion in a flagship index signals growing institutional tolerance for bitcoin-linked business models within mainstream capital markets.

FAQ ⏰

• Why did Strategy remain in the Nasdaq-100 after reconstitution?
  Strategy continued to meet the Nasdaq-100’s rules-based market capitalization and liquidity requirements.
• How much bitcoin does Strategy hold on its balance sheet?
  Strategy currently holds 660,624 BTC, making it the largest corporate holder.
• What criticism has Strategy faced over its bitcoin strategy?
  Some analysts and index providers argue it increasingly resembles a bitcoin-linked investment fund.
• Why is Nasdaq-100 inclusion important for Strategy?
  Inclusion signals institutional tolerance for bitcoin-focused business models in major equity indexes.