Bitcoin "hoarding whales" strategy (MSTR.US) secures a spot on the Nasdaq 100 MSCI Index still warns of potential removal in January.

On Friday, Bitcoin hoarding giant Strategy (MSTR.US) managed to keep its position in the Nasdaq 100 index, maintaining its status as a benchmark index component for over a year. Meanwhile, analysts continue to question its business model. Some market observers point out that Strategy's innovative "buy and hold" business model for Bitcoin is more like the operation of an investment fund, a model that has already spawned dozens of imitators. Concerns about the sustainability of cryptocurrency reserve companies are escalating, as their stock prices have been proven to be extremely sensitive to Bitcoin's sharp fluctuations. Nasdaq announced that Biogen (BIIB.US), CDW Corporation (CDW.US), Globalfoundries (GFS.US), Lululemon Athletica (LULU.US), ON Semiconductor Corporation (ON.US) and Trade Desk (TTD.US) have been removed from this tech-heavy benchmark index. The newly added components include Alnylam Pharmaceuticals, Inc (ALNY.US), Ferrovial (FER.US), Insmed (INSM.US), Monolithic Power Systems (MPWR.US), Seagate Technology Holdings PLC (STX.US) and Western Digital Corporation (WDC.US). Strategy was originally a software company, but shifted to Bitcoin investment in 2020. In December of last year, it was included in the Nasdaq 100 index, classified under the technology sub-category of the index. Global index provider MSCI also has concerns about including digital asset reserve companies in its benchmark index. MSCI is expected to decide in January whether to exclude companies like Strategy from the index. The Nasdaq index adjustments are expected to take effect on December 22. The Nasdaq 100 index tracks the largest non-financial companies listed on the exchange by market value. In September, it was reported in the media that Nasdaq has been tightening requirements for digital asset reserve companies listed on its exchange. The exchange typically does not comment on the practice of including these companies in its index. Strategy did not respond to requests for comment. Index component adjustments are closely monitored as they determine which companies can benefit from billions of dollars in passive investor funds. However, Strategy founder Michael Saylor has downplayed concerns about being potentially removed from the index.