MSCI's Proposed Rule Change on Bitcoin Sparks Backlash from Strategy Inc.

Strategy Inc.'s CEO Phong Le has taken issue with MSCI's proposed rule change that could exclude Bitcoin treasury companies from global benchmark indexes.

'I think they're taking a second cut at this is a bit ill-advised,' Le stated during a recent shareholder Q&A. 'They've taken a different approach to it, which is to redefine what an operating asset is.'

Le argued that MSCI's updated consultation framework attempts to redefine what constitutes an operating asset, placing the index firm directly at odds with U.S. regulators.

The SEC and FASB have defined what an operating asset is for Strategy, and Bitcoin certainly is that, Le added.

'So I think they're sort of taking a position against generally accepted accounting principles and the SEC,' he said.