Share
Share this article
Copy linkX (Twitter)LinkedInFacebookEmail
Markets
Share
Share this article
Copy linkX (Twitter)LinkedInFacebookEmail
Strategy Pushes Back on MSCI’s Dig
Markets
Share
Share this article
Copy linkX (Twitter)LinkedInFacebookEmail
Strategy Pushes Back on MSCI’s Dig
Strategy Pushes Back on MSCI’s Digital Asset Exclusion Proposal
Strategy Pushes Back on MSCI’s Digital Asset Exclusion Proposal
Michale Saylor and team urged MSCI to maintain neutral index standards after a plan to exclude firms with significant digital asset holdings.
By James Van Straten, AI Boost|Edited by Stephen Alpher
Dec 10, 2025, 3:19 p.m.
Michael Saylor
What to know:
- Strategy has submitted a formal letter to MSCI opposing its proposal to exclude companies with large digital asset holdings from global equity indices.
- Strategy argues DATs are operating companies, not investment funds, and should remain eligible for benchmark inclusion.
- The firm warns that the proposed 50% digital asset threshold is arbitrary, unworkable and risks harming innovation and U.S. competitiveness.
Strategy (MSTR) has written a formal letter in response to MSCI's proposal to exclude companies whose digital asset holdings represent 50% or more of total assets from MSCI Global Investable Market Indexes.
Led by Executive Chairman Michael Saylor, Strategy argued that digital asset treasury companies (DATs), including Strategy itself, are operating businesses that use digital assets as productive capital, not passive vehicles for tracking price movements. Strategy builds bitcoin backed credit instruments, manages an active corporate treasury program and maintains a global enterprise analytics software business. Investors buy the company’s strategy and management, not a static wrapper for bitcoin, the company said.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Sign me up
Already under serious pressure thanks to falling bitcoin prices and a narrowing mNAV (the premium to bitcoin holdings at which investors value a company), Strategy shares tumbled even further two weeks ago as the MSCI proposal came to light. MSTR stands to loss many billions in passive capital flows should it be removed from MSCI indexes.
Turning back to Strategy's arguments, the company also listed five reasons the company is not an investment fund:
1. Strategy is organized as a conventional operating company.
2. The company has no fund or ETP like structure or obligations.
3. MSTR is not an investment company under applicable laws.
4. The company creates no fund like tax treatment for investors
5. It has a long history as an operating software business.
The proposed 50% threshold is described as arbitrary and unworkable, Strategy said. Many companies hold concentrated reserves in oil, real estate, timber or utilities, yet remain eligible for MSCI indices. MSCI is thus singling out only digital asset backed companies.
Strategy further argued that the proposal injects policy views into index construction at a time when federal policy has shifted toward supporting digital asset innovation. Excluding DATs could force large passive outflows, undermine American competitiveness and slow the expansion of new financial technologies.
If MSCI continues to remain inclined to treat DATs differently, Strategy urged the firm to extend the consultation and provide a more detailed basis for any proposed changes.
Bitcoin NewsMicroStrategyMichael Saylor
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
More For You
Protocol Research: GoPlus Security
Commissioned byGoPlus
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
View Full Report
More For You
SpaceX’s $300M Bitcoin Stack Puts Crypto Inside the World’s Biggest Planned IPO
The Elon Musk–run company is moving ahead with plans for an initial public offering that would seek to raise “significantly more than $30 billion.” Even relatively small balance-sheet allocations matter at that scale.
What to know:
- SpaceX is planning an IPO by 2026, potentially valuing the company at $1.5 trillion.
- The company holds significant cryptocurrency assets, including bitcoin and dogecoin.
- Elon Musk's influence in crypto markets is notable, with SpaceX's IPO potentially expanding his reach in AI and crypto infrastructure.
Read full story
Latest Crypto News
SpaceX’s $300M Bitcoin Stack Puts Crypto Inside the World’s Biggest Planned IPO
Most Influential: Rushi Manche
Most Influential: The Lazarus Group
Most Influential: Pump.fun
Most Influential: Hayden Davis
Most Influential: The Wrench Attackers
Top Stories
Eric Trump's American Bitcoin and Anthony Pompliano's ProCap Add to BTC Holdings
Telegram Ring Ran Pump-and-Dump Network That Netted $800K in a Month: Solidus Labs
Superstate Rolls Out Direct Stock Issuance for Public Companies on Ethereum, Solana
SpaceX’s $300M Bitcoin Stack Puts Crypto Inside the World’s Biggest Planned IPO
Bitcoin Volatility Is Still Compressing, Dimming Year-End Rally Outlook
Crypto Markets Today: Fed Rate-Cut Hopes Lift BTC, ETH as Traders Brace for Volatility
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
You May Also Like
Bitcoin ETFs Surge with 20,685 BTC Inflows, Marking Strongest Week
TLDR Bitcoin ETFs recorded their strongest weekly inflows since July, reaching 20,685 BTC. U.S. Bitcoin ETFs contributed nearly 97% of the total inflows last week. The surge in Bitcoin ETF inflows pushed holdings to a new high of 1.32 million BTC. Fidelity’s FBTC product accounted for 36% of the total inflows, marking an 18-month high. [...] The post Bitcoin ETFs Surge with 20,685 BTC Inflows, Marking Strongest Week appeared first on CoinCentral.
Share
Coincentral2025/09/18 02:30
UL Research Institutes’ Chemical Insights Scientist Receives Achievement Award from The Society of Toxicology
ATLANTA–(BUSINESS WIRE)–UL Research Institutes’ Chemical Insights scientist Katie Paul Friedman, Ph.D. has received the prestigious 2026 Achievement Award from
Share
AI Journal2026/01/21 03:46
Revolut wil banklicentie in Peru en zet vol in op remittances en stablecoins
De Londense fintech Revolut zet een nieuwe stap in zijn internationale expansie en heeft een aanvraag ingediend voor een volledige banklicentie in Peru. Met deze
Share
Coinstats2026/01/21 03:10