Strategy Opposes MSCI Proposal, Says Bitcoin Treasury Firms Are Being Targeted a Second Time

Bitcoin treasury Strategy has blasted Morgan Stanley Capital International’s proposal to exclude it from its Global Investable Market Indexes, calling it “misguided” and “flawed.”

Writing in a letter to MSCI Monday, the Nasdaq-listed Bitcoin behemoth’s founder, Michael Saylor, and CEO, Phong Le, said that the company was discriminating against digital asset businesses.

MSCI said earlier this month that it was consulting on a plan to define “non-operating companies” and make them ineligible for its Global Investable Market Indexes. The removal of such companies would exclude firms like Strategy from indexes visible to a large pool of institutional investors.

MSCI’s latest proposal comes after the company in 2025 proposed excluding from its indices all companies whose digital-asset holdings represent 50% or more of total assets.

“MSCI’s continued effort to discriminate against digital assets is misguided and calls into question MSCI’s neutrality and reliability,” Strategy’s letter read.

It added: “The proposal, like the 2025 proposal that MSCI withdrew, is discriminatory, arbitrary, and misguided. If adopted, the proposal would have no meaningful impact on Strategy’s business, but it would profoundly harm MSCI’s reputation as a reliable and neutral index provider. Like the 2025 proposal, the current proposal should be withdrawn.”