As of now, there has been no public or official announcement that MicroStrategy has been removed from major indices such as MSCI. In other words, "may be removed" ≠ "has already been removed."

MicroStrategy and its executives (such as Michael J. Saylor) have publicly refuted these claims, stating that it remains an "operating company (operating company)" rather than merely a "treasury-only firm (treasury-only firm) / ETF-like / fund company."
Some analysts and institutions also believe that even if it is removed, the actual impact may have been partially priced in by the market—therefore, it may not be as dramatic as a "catastrophic event."