Strategy, a Bitcoin (BTC) asset management firm led by Microsailor, has sent a formal letter of opposition to MSCI, the global stock index compilation organization. This is in response to MSCI's announcement that it will exclude "digital asset operators" from its market indices.
On the 10th (local time), MSCI announced that it was considering excluding companies with more than 50% of their total assets held in digital assets like Bitcoin from its stock indexes. In effect, this targeting listed companies like Strategy, which manage Bitcoin as a core asset on their balance sheets.
Michael Saylor responded, stating, "This proposal is unfair, biased, and will inevitably hinder technological innovation," and strongly requested MSCI's withdrawal. In an open letter, he argued, "Companies holding digital assets are not simply investment funds, but actual operating entities," and that they should be treated equally to companies with accounting structures focused on specific assets, such as cash and raw materials.
Strategy criticized MSCI's new policy as "arbitrary and discriminatory." Previously, MSCI had never excluded companies from its stock indexes based on their sector or asset class holdings. This unprecedented policy effectively amounts to a digital asset avoidance policy.
The company also pointed out that if MSCI artificially filters out certain assets or industries, it would violate its core identities of market neutrality and global standards.
Strategy emphasized that this decision also conflicts with the U.S. government's digital asset policy direction. The U.S. recognizes that Bitcoin and other digital assets will form the next-generation economic infrastructure and financial foundation, and it wants American companies to be at the center of this development.
If MSCI's proposal becomes reality, numerous listed companies, including those with strategically focused digital assets, could be excluded from global indices and ultimately excluded from institutional investment funds. This could severely limit technology-driven financial innovation.
โBitcoin is forming the foundation of a new financial system, and U.S. companies are best positioned to lead this transition,โ Strategy warned. โDecisions to exclude this innovation from the index would be detrimental to investors, companies, and the market.โ
๐ Market Interpretation
Inclusion in global stock indices is crucial for institutional investment inflow and investor confidence. MSCI's proposal could negatively impact the market access and valuation of digital asset-focused listed companies.
๐ก Strategy Points
Strategy's response isn't simply an internal defense; it's a policy protest for the entire digital asset industry. There's also the possibility that the industry will unite against regulations that block institutional investment inflows.
๐ Glossary
MSCI: Morgan Stanley Capital International, a widely used stock index provider worldwide.
- Digital Asset Operator (DAT): A listed company that holds cryptocurrency as its core asset.
Strategy: A Bitcoin-focused company led by Michael Saylor, formerly MicroStrategy
TP AI Precautions
This article was summarized using a TokenPost.ai-based language model. Key points in the text may be omitted or inaccurate.
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