MSCI's Bitcoin Exclusion Plan Draws Fire from Strategy

Strategy, the world's largest Bitcoin treasury firm, has called on global index provider MSCI Inc. to withdraw its latest exclusion proposal.

The move would exclude companies that buy and hold assets, such as Bitcoin treasuries, from MSCI's Global Investable Markets Indexes (GIMI), which only includes active businesses with real operating cash.

Strategy defended itself and other digital asset treasuries (DATs) on MSCI indices, citing biases in the proposal and its potential impact on the sector.

JPMorgan analysts had warned that the exclusion could trigger $2.8 billion of MSTR fund liquidations last year, but Strategy downplayed this impact, stating that funds tracking MSCI indices represent only ~3% of MSTR shares outstanding.