Saylor Slams MSCI Over 'Discriminatory' Crypto Treasury Rule

Michael Saylor and Phong Le, CEO of Strategy, have asked MSCI to withdraw its proposed screen that would delete Strategy from its Global Investable Market Indexes. The proposed screen flags issuers on five financial ratios, and tripping four of them makes a company ineligible for inclusion. This move is seen as 'discriminatory, arbitrary, and misguided' by Saylor and Le.

The proposal affects companies like Yellow Cake, Metaplanet, SharpLink, Center Laboratories, and Lydia Holding. The Bitcoin treasury company's float-adjusted market capitalization is $23.93 billion, making up roughly 87% of the total at stake across all six companies. Saylor and Le argue that the proposal would have no meaningful impact on Strategy's business while 'profoundly' harming MSCI's reputation as a neutral index provider.

The two executives made a similar appeal in December, warning MSCI that excluding crypto treasuries would harm U.S. national security. They also requested that MSCI place a legal hold on all documents relating to the test's development.