Strategy says MSCI should measure markets, not dictate corporate assets
Reported by CoinDesk · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Strategy criticized MSCI’s proposed “non-operating company” rules, which could exclude Strategy, the largest bitcoin treasury company, from MSCI’s global equity indexes. The company claims the new proposal repeats issues found in MSCI’s earlier digital asset-specific plan and unfairly penalizes firms for holding bitcoin. Strategy stated, “Digital assets are assets. Index providers should measure markets, not decide which assets companies are allowed to own.”
Why it matters
Strategy argues that MSCI’s new methodology is out of step with regulators, markets, and its own customers by effectively deciding which assets companies can hold. The exclusion from MSCI indexes could impact how companies with significant digital asset holdings are represented in global equity benchmarks, which may influence market perceptions and institutional investment decisions.
Key context
The latest consultation replaces an earlier proposal that focused specifically on companies with significant digital asset holdings, which Strategy formally objected to in December 2025. Under the earlier proposal, companies holding digital assets representing at least 50% of total assets would be excluded from MSCI indexes. The new methodology uses a financial-ratio screen based on May 2026 data and could exclude Strategy, Metaplanet, and uranium holder Yellow Cake from the MSCI ACWI IMI.
Key numbers and entities
The companies involved include Strategy (ticker MSTR$93.15), Metaplanet, and Yellow Cake. Strategy’s stock price dropped 4.3% during the Friday session as bitcoin fell to $62,600.
What remains unclear
The source does not flag open questions or provide details on how MSCI will finalize or implement the new “non-operating company” rules beyond the consultation phase.