Strategy (MSTR) by Michael Saylor still maintains its position in the Nasdaq 100 index (an index comprising the 100 largest and most influential companies on the Nasdaq, excluding banks and financial companies), despite undergoing its annual restructuring with many major changes. This adjustment removes 6 large companies and adds 3 new names, effective from 12/22, but Strategy is not removed.

Originally a software company, Strategy shifted in 2020 to a Bitcoin accumulation strategy. As a result, Strategy's stock price fluctuates very strongly with Bitcoin's price, unlike traditional business models.

This has sparked controversy, as many believe Strategy is more like a Bitcoin investment fund than a tech company. Some organizations, like MSCI, are considering removing such companies from the index.