Saylor-Backed Strategy Battles MSCI Over Index Exclusion Proposal
Strategy, a company led by Michael Saylor and one of the largest corporate holders of Bitcoin (BTC), has pushed back against Morgan Stanley Capital International's (MSCI) latest proposal to exclude 'non-operating' companies from its benchmarks.
In a letter to MSCI's Equity Index Committee, Strategy called the new eligibility test 'fundamentally flawed,' saying it would unfairly delist Strategy and Metaplanet from MSCI's indices while adding SharpLink (SBET), an Ethereum treasury company, to a watchlist.
Strategy argued that its business activities meet MSCI's own screening criteria under Generally Accepted Accounting Principles (GAAP), citing recent conversations with U.S. Securities and Exchange Commission staff and the company's latest 10-Q report.
The firm asked MSCI either to withdraw the proposal or apply any changes prospectively, publishing a full record of the consultation.