Strategy Inc. (NASDAQ:MSTR) CEO Phong Le has strongly criticized index provider MSCI over a proposed rule change that could exclude Bitcoin (CRYPTO: BTC) treasury companies from global benchmark indexes, calling the provider’s move “ill-advised.”
Speaking alongside Executive Chairman Michael Saylor during a recent shareholder Q&A, Le addressed the proposal’s potential fallout, reassuring investors that any resulting deletion would ultimately have an “immaterial” impact on the firm.
Pushing Back Against Accounting Redefinition
During the session, Le argued that MSCI’s updated consultation framework attempts to redefine what constitutes an operating asset, placing the index firm directly at odds with U.S. regulators.
“I think the fact that they’re taking a second cut at this is a bit ill-advised,” Le stated. “They’ve taken a different approach to it, which is to redefine what an operating asset is. The SEC and FASB have defined what an operating asset is for Strategy, and Bitcoin certainly is that. So I think they’re sort of taking a position against generally accepted accounting principles and the SEC.”
Le added that Strategy will submit a formal response to challenge what he described as an approach “antagonistic to Bitcoin, the asset class.”
