Strategy, the largest publicly traded Bitcoin treasury firm, is at risk of being excluded from the MSCI index due to a proposal targeting companies with over 50% digital assets. Analysts predict this exclusion could lead to losses of up to $9 billion. The firm's CEO has highlighted a potential $15 trillion barrier in passive investments if the rule is widely adopted. Financial institutions TD Cowen and JPMorgan estimate that Strategy could face $8.8 billion in outflows if removed from multiple indexes. The MSCI is currently in a public consultation phase, and the decision could have significant sector-wide implications, potentially affecting altcoins and other digital asset-related firms.