Shares of Strategy ($MSTR) surged as much as 7% earlier today after global index provider MSCI concluded its long-running review of digital asset treasury companies and opted not to exclude them from its flagship equity indexes — at least for now.

$MSTR was trading above $170 per share in early market trading, before paring gains as bitcoin pulled back into the low $91,000 range.

By midday, $MSTR shares had dipped to around $165, up only 4%, tracking weakness in the broader crypto market but still holding a solid advance on the day.

The rally followed confirmation from MSCI that it will maintain the current treatment of digital asset treasury companies (DATCOs), including…

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