Strategy Blasts MSCI Proposal, Calling It 'Discriminatory' Against Digital Asset Businesses
Nasdaq-listed Strategy (MSTR) has criticized MSCI's proposal to define 'non-operating companies' and potentially exclude bitcoin-treasury firms from Global Investable Market Indexes. The company, which holds 845,050 BTC worth $65.8 billion, argues that this move is discriminatory and would reduce visibility for institutional investors.
Strategy's founder and CEO, Michael Saylor and Phong Le, respectively, claim that MSCI is targeting digital asset businesses unfairly. They point out that the company reports its bitcoin business as an operating segment, with gains and losses counted as operating expenses.
The proposal comes after a similar attempt by MSCI in 2025 to exclude companies whose digital-asset holdings represent 50% or more of total assets. Strategy argues that this new plan is 'arbitrary and unexplained' and would harm MSCI's reputation as a reliable index provider.