Strategy Blasts 'Fundamentally Flawed' MSCI Proposal

Michael Saylor's Strategy (MSTR) has pushed back against Morgan Stanley Capital International (MSCI)'s proposal to exclude non-operating companies from its benchmarks. In a letter to MSCI's Equity Index Committee, Strategy argued that the new eligibility test is 'fundamentally flawed' and would unfairly target Bitcoin treasury companies.

The proposed test would delist Strategy and Metaplanet from MSCI's indices, while adding SharpLink (SBET) to a watchlist. Strategy claims it meets MSCI's own test under Generally Accepted Accounting Principles (GAAP), citing conversations with the U.S. Securities and Exchange Commission (SEC) staff.

The company has previously defended its position on MSCI's indices, pointing out that index classification does not define its status as a real company. Strategy asked MSCI to withdraw the proposal or apply any changes only prospectively and publish a full record of the consultation.