Saylor Slams MSCI Filter Targeting Bitcoin Treasury Companies

Michael Saylor and Phong Le, founder and CEO of Strategy, have jointly challenged MSCI's proposed filter targeting non-operational companies in its Global Investable Market Indexes. The two leaders argue that this rule is 'discriminatory, arbitrary, and misguided,' specifically targeting digital asset-related stocks.

The proposal concerns companies with less than half operational assets, which includes assets, expenses, cash flows, fair value, and external financing. Strategy does not fit this definition according to the letter, as its Bitcoin treasury is considered an operational segment in its Q2 report.

MSCI's filter threatens several Bitcoin stocks, including Strategy, Yellow Cake, and Metaplanet. The exclusion of Strategy could cause $2.8 billion in capital outflows, or up to $11.6 billion if other indices follow suit.