Strategy Inc. was removed from the S&P 500 index in September 2025, primarily due to its Bitcoin treasury strategy. The S&P Dow Jones Indices Committee expressed concerns over the accounting practices related to Bitcoin holdings. This decision resulted in a 2% decline in Strategy Inc.'s stock price and potentially blocked $10–16 billion in inflows from index funds and ETFs. Despite the exclusion, Michael Saylor, executive chairman of Strategy Inc., reiterated the company's commitment to its Bitcoin-focused strategy. He highlighted the firm's recent performance, which has outpaced both the S&P 500 and Bitcoin itself.