Strategy (MSTR) has pushed back against MSCI’s proposed methodology for identifying “non-operating companies,” which could result in the largest bitcoin treasury company being removed from the index provider’s global equity indexes.
Strategy said on X, “Digital assets are assets. Index providers should measure markets, not decide which assets companies are allowed to own,” Strategy said. “MSCI’s proposal puts it out of step with regulators, markets, and its own customers. Bitcoin doesn’t need MSCI. Neither does Strategy.”
The latest consultation replaces an earlier proposal focused specifically on companies with significant digital asset holdings. Applying the new financial-ratio screen using May 2026 data would have resulted in the removal of Strategy, Metaplanet and uranium holder Yellow Cake from the MSCI ACWI IMI.
The response follows Strategy’s formal objection in December 2025 to MSCI’s previous proposal,…
