Strategy has criticized MSCI’s proposed methodology for identifying “non-operating companies,” warning that the rules could remove the world’s largest Bitcoin treasury company from MSCI’s global equity indexes.
“Digital assets are assets. Index providers should measure markets, not decide which assets companies are allowed to own,” Strategy said, arguing that MSCI’s approach is out of step with regulators, markets and investors.
Under MSCI’s latest proposal, a financial-ratio screening method would be used instead of an earlier rule specifically targeting companies with large digital asset holdings. Applying the new methodology to May 2026 data would have excluded Strategy, Metaplanet and uranium investment company Yellow Cake from the MSCI ACWI IMI.
Strategy previously opposed an MSCI proposal that could have excluded companies if digital assets represented at least 50% of total assets.
The company maintains that it is an operating business rather than a passive Bitcoin investment vehicle, citing its software operations, active treasury management and Bitcoin-backed credit products.
Strategy concluded its latest response with a pointed message: “Bitcoin doesn’t need MSCI. Neither does Strategy.” $BTC
“Digital assets are assets. Index providers should measure markets, not decide which assets companies are allowed to own,” Strategy said, arguing that MSCI’s approach is out of step with regulators, markets and investors.
Under MSCI’s latest proposal, a financial-ratio screening method would be used instead of an earlier rule specifically targeting companies with large digital asset holdings. Applying the new methodology to May 2026 data would have excluded Strategy, Metaplanet and uranium investment company Yellow Cake from the MSCI ACWI IMI.
Strategy previously opposed an MSCI proposal that could have excluded companies if digital assets represented at least 50% of total assets.
The company maintains that it is an operating business rather than a passive Bitcoin investment vehicle, citing its software operations, active treasury management and Bitcoin-backed credit products.
Strategy concluded its latest response with a pointed message: “Bitcoin doesn’t need MSCI. Neither does Strategy.” $BTC