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Europe’s largest asset manager, Amundi, increased its stake in <a href="https://www.thestreet.com/crypto/markets/michael-saylor-breaks-his-most-famous-promise" rel="noopener noreferrer nofollow">Michael Saylor</a>'s Bitcoin treasury company, <a href="https://www.thestreet.com/crypto/markets/strategy-stock-under-pressure-ahead-of-key-msci-decision-today" rel="noopener noreferrer nofollow">Strategy</a> (Nasdaq: MSTR), formerly MicroStrategy, by 46% in the third quarter of 2026.
As per the firm's 13F <a href="https://www.sec.gov/Archives/edgar/data/1330387/000117266126004884/xslForm13F_X02/infotable.xml" rel="noopener noreferrer nofollow">filing</a> with the Securities and Exchange Commission (SEC) on Nov. 6, the Paris-based firm held 1.9 million MSTR shares&nbsp;worth&nbsp;$291.4 million&nbsp;by the end of Q3 2026.
<a href="https://www.thestreet.com/crypto/markets/trader-loses-millions-as-nvidia-ceo-jensen-huang-steps-down" rel="noopener noreferrer nofollow">Related: Trader loses millions after Nvidia CEO Jensen Huang steps down</a>
In contrast, the firm <a href="https://www.sec.gov/Archives/edgar/data/1330387/000117266126003278/xslForm13F_X02/infotable.xml" rel="noopener noreferrer nofollow">held</a> $1.3 million shares worth&nbsp;$115.1 million by the end of Q2 2026.
So,&nbsp;Amundi has increased its stake in Strategy shares by 46% last quarter.
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 Inside Michael Saylor's Bitcoin Strategy (4:18)
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<h2 id="msci-removes-microstrategy-from-indexes">MSCI removes MicroStrategy from indexes</h2>
Meanwhile,&nbsp;the index provider MSCI announced the&nbsp;<a href="https://www.msci.com/eqb/gimi/stdindex/MSCI_Nov26_STPublicList.pdf" rel="noopener noreferrer nofollow">removal</a>&nbsp;of the world's leading corporate Bitcoin treasury from its USA and World indexes on Nov. 11 as it expanded its non-operating company exclusions.
The benchmark tracks large and midsize U.S. companies. Beginning Dec. 1, Strategy will no longer be part of MSCI's indexes.
During consultation,&nbsp;Strategy <a href="https://www.strategy.com/msci" rel="noopener noreferrer nofollow">argued</a> MSCI’s operating and non-operating terminology lacked a basis in recognized accounting frameworks and was a&nbsp;pretext for targeting digital asset treasury companies.
The company said it reports its Bitcoin business as an operating segment under U.S. GAAP, consistent with discussions with SEC Staff, and urged MSCI to withdraw the proposal. But the index provider decided to stick to its decision.
<h3 id="popular-on-thestreet-roundtable">Popular on TheStreet Roundtable:</h3>
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In November 2025, <a href="https://finance.yahoo.com/news/strategy-saylor-defends-business-model-151009327.html" rel="noopener noreferrer nofollow">JPMorgan estimated</a> Strategy could face $2.8 billion in passive investment outflows if excluded from MSCI indexes, with total outflows rising to as much as $8.8 billion if other index providers followed.
Strategy currently <a href="https://www.strategy.com/btc" rel="noopener noreferrer nofollow">holds</a> 850,364 Bitcoin&nbsp;on its balance sheet, representing about 4.05% of the leading cryptocurrency's maximum supply of 21 million coins.
The MSTR stock was trading at $116.09 at the time of writing, down 5% on the day. The stock has lost nearly 50% of its value over the past year.
<h2 id="the-roundtable-100">The Roundtable 100</h2>
If you follow our market coverage, don’t miss the <a href="https://roundtable100.com/tab/rankings" rel="noopener noreferrer nofollow">Roundtable 100</a>. Updated every Friday, it's a power ranking of the 100 most investable tech stocks, including digital assets. Check out the latest <a href="https://roundtable100.com/" rel="noopener noreferrer nofollow">RTB 100</a> rankings at <a rel="noopener noreferrer nofollow">roundtable100.com</a>.
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Europe’s largest asset manager doubles down on MicroStrategy amid MSCI setback

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