Michael Saylor 's Bitcoin (BTC) treasury company, Strategy (Nasdaq: MSTR), earlier known as MicroStrategy, has been successful in retaining its spot in the Nasdaq 100 (NDQ).
A benchmark stock market index in the U.S., the Nasdaq 100 tracks hundred of the largest non-financial companies by market capitalization listed on the exchange.
Related: MicroStrategy sends sharp warning letter to MSCI
Nasdaq has added six companies to the benchmark:
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Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY)
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Ferrovial SE (Nasdaq: FER)
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Insmed Inc. (Nasdaq: INSM)
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Monolithic Power Systems (Nasdaq: MPWR)
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Seagate Technology Holdings plc (Nasdaq: STX)
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Western Digital Corp. (Nasdaq: WDC)
Nasdaq has removed six companies from the index:
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Biogen (Nasdaq: BIIB)
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CDW Corporation (Nasdaq: CDW)
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Globalfoundries (Nasdaq: GFS)
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Lululemon Athletica (Nasdaq: LULU)
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On Semiconductor (Nasdaq: ON)
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The Trade Desk, Inc. (Nasdaq: TTD)
The changes will take effect prior to market open on Dec. 22.
For Strategy, keeping the spot is a major achievement because the Bitcoin-focused company has recently been beset by the risk of delisting from popular stock indices.
Strategy world's largest corporate Bitcoin holder
Strategy began as a software company founded in 1989 but turned to Bitcoin in 2020 when founder Michael Saylor became fascinated with the digital asset amid the coronavirus pandemic.
With the latest digital asset buy, it continues to be the world's largest corporate Bitcoin treasury, with 671,268 coins worth approximately $60 billion on its balance sheet.
However, the company's Bitcoin acquisition model has come under intense scrutiny amid the crypto market crash, which saw BTC falling from the peak of $126,000 to $90,000 in a matter of weeks.
More News:
Strategy faces delisting risk
Last month, Wall Street giant JPMorgan Chase warned that the company risks getting delisted from major equity indices, including the MSCI USA Index.
The MSCI USA Index is another popular benchmark that tracks the performance of large-cap and mid-cap U.S. companies and represents approximately 85% of the U.S. stock market.
MSCI confirmed considering the exclusion of public companies with more than 50% of the assets on their balance sheets dedicated to digital assets.
If the plan goes through, Strategy could become the first casualty of the index reshuffle. The Bitcoin proxy and the MSCI are engaged in talks .
Last week, Strategy wrote a scathing letter to the members of the MSCI Equity Index Committee and called their proposal "misguided," "discriminatory," "arbitrary," and "unworkable."
Bitcoin was exchanging hands at $89,607.51 at the time of writing, almost flat since last day.
The MSTR stock fell 3.74% to close at $176.45 on Dec. 12 and was trading at $176.01 in pre-market hours on Dec. 15.
This story was originally published by TheStreet on Dec 15, 2025, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.
