Strategy shares fell 9.56% to $136.83 after MSCI proposed revised index-selection criteria that could exclude companies whose primary activity is holding assets rather than operating businesses. Strategy held 848,250 Bitcoin by mid-October 2026, acquired for approximately $64 billion at an average cost of $75,444 per coin. Its latest disclosed purchase was 250 BTC for approximately $21.5 million. Michael Saylor later hinted at further accumulation in an October 18 post, but Strategy did not confirm another transaction. The company also repurchased $192.4 million of STRC preferred shares and reported about $5.52 billion in dollar assets. JPMorgan estimated that exclusion from MSCI benchmarks could trigger approximately $2.8 billion in passive-fund outflows. Saylor criticized the proposal, arguing that Strategy uses Bitcoin to support digital credit products and should be treated as an operating company. MSCI is expected to publish its final decision on November 11, 2026.