Bitcoin Policy Institute just published a paper on MSCI’s proposed “non-operating company” rule. Under that standard, Strategy and Metaplanet risk getting cut from MSCI indexes.
BPI also flags an “invisible committee” behind the proposal and links it to an earlier crypto treasury review. Same idea, tighter wording: hold too much Bitcoin on the balance sheet and you may no longer count as a normal operating company for index purposes.
If it sticks, passive funds that track those indexes would have to sell. The paper does not settle the politics. It does put a clear price tag on the rule for the biggest public Bitcoin holders.
$BTC $MOVR $NIGHT
BPI also flags an “invisible committee” behind the proposal and links it to an earlier crypto treasury review. Same idea, tighter wording: hold too much Bitcoin on the balance sheet and you may no longer count as a normal operating company for index purposes.
If it sticks, passive funds that track those indexes would have to sell. The paper does not settle the politics. It does put a clear price tag on the rule for the biggest public Bitcoin holders.
$BTC $MOVR $NIGHT