Strategy Holds 848,517 Bitcoin Worth $70.3 Billion as MSCI Index Removal Looms

Strategy (MSTR), the largest corporate Bitcoin treasury, held 848,517 BTC acquired for $64.02 billion at an average price of $75,446 as of October 20, 2026, according to its latest SEC filing. With Bitcoin trading near $82,500, the position is worth roughly $70.3 billion — about $6.3 billion above cost. The company's place in equity indexes is under threat after MSCI finalized a rule on October 15, 2026, barring "non-operating companies" whose balance sheets are dominated by a single asset from its Global Investable Market Indexes, effective at the close of November 30, 2026. MSCI will publish the affected list on November 11. Funds tracking its indexes held 3.1% of Strategy's basic shares as of early September, when CEO Michael Saylor and CEO Phong Le urged the index provider to drop the rule. Strategy has shifted its playbook, selling 6,948 BTC for about $432.5 million between May and mid-August 2026 to fund preferred dividends and buybacks of its STRC preferred stock, before resuming purchases in late August. STRC traded at $99.05 on October 20, just below its $100 par value.