Strategy writes to MSCI opposing the proposal to exclude companies holding Bitcoin

Bitcoin holding company Strategy (formerly MicroStrategy) has written to MSCI opposing its proposal to exclude "non-operating companies" from the global investable market index, stating that the proposal is "misleading and flawed." Strategy founder Michael Saylor and CEO Phong Le expressed in the letter that MSCI's proposal discriminates against digital asset companies and questioned its fairness and reliability as an index provider.

Earlier this month, MSCI announced that it is consulting on the definition of "non-operating companies" and plans to exclude such companies from its global investable market index. Strategy pointed out that this is the second time MSCI has proposed a similar plan, as a previous proposal for 2025 was withdrawn. Strategy emphasized that it is an operating company, employing approximately 1,500 people globally, and reports its Bitcoin business as an operating segment, with Bitcoin gains and losses reported as operating expenses.

Strategy is currently the largest corporate holder of Bitcoin, holding 845,050 Bitcoins, valued at approximately $6.58 billion at current prices. MSTR closed up 4% on Monday, but has fallen 15% year-to-date.