Strategy maintains its position in the Nasdaq 100 as the debate over its Bitcoin-focused model grows

Source: CritpoTendencia Original Title: Strategy Maintains Its Place in the Nasdaq 100 While Debate Grows Over Its Bitcoin-Focused Model Original Link:

The Pioneering Model of Strategy Between Innovation and Controversy

Since Strategy pivoted in 2020 from a traditional software company to a pioneer in adopting Bitcoin as its primary treasury asset, its buy-and-hold approach has sparked both admiration and questions on Wall Street. Currently, dozens of companies have followed this path, significantly incorporating BTC into their balance sheets.

However, some analysts argue that this type of strategy brings these companies closer to the logic of an investment vehicle rather than a conventional tech firm. This perception has intensified the debate over the true corporate nature of Strategy and other firms with similar models.

Bitcoin’s inherent price volatility has increased the sensitivity of Strategy’s shares, reinforcing the correlation between the cryptocurrency’s performance and the company’s stock price. This link has led regulators and investors to question the sustainability of crypto treasuries, especially after recent episodes of tension in digital markets.

The Challenge of Staying in the Nasdaq 100

Despite these doubts, Strategy managed to remain in the Nasdaq 100, while other tech companies like Biogen, CDW Corporation, GlobalFoundries, and Lululemon Athletica were excluded in the annual review.

The addition of new members such as Alnylam Pharmaceuticals, Ferrovial, and Seagate Technology reflects the index’s dynamic nature, grouping the largest non-financial companies by market capitalization and liquidity.

This index, a key benchmark for institutional funds and tech ETFs, evaluates not only company size but also financial stability and risk profile.

Strategy was included last December under the technology category, although pressure from index providers like MSCI, which will review in January the presence of companies with large digital asset reserves, could change the sector’s outlook.

The Future of Crypto Companies in Benchmark Indices

Strategy’s continued presence in the Nasdaq 100 becomes a case study on the evolution of inclusion criteria in major financial indices.

While some advocates see the crypto treasury model as a diversification bet and a new form of corporate management, others warn that high exposure to Bitcoin’s volatility could distort index composition and increase risks for traditional investors.

The decision MSCI will make in January, which could lead to the exclusion of companies with crypto treasuries from their indices, will set a significant precedent regarding the role of these models within the global financial system and their acceptance in regulated markets.