Bitcoin News
By Bruce Buterin
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MSCI Aims to Redefine What Constitutes an "Operational" Company. The core issue is a matter of definition. MSCI is considering classifying certain companies as…
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Methodology Deemed Arbitrary. Strategy goes beyond mere protest. It directly attacks the logic behind MSCI's methodology.
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The Market Responds in Its Own Way. While the letter battle plays out behind the scenes, the market gave its verdict for the day: MSTR…
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Strategy is not backing down. The Bitcoin treasury company has sent a direct letter to Morgan Stanley Capital International to contest a proposal that, if passed, could see it…
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Michael Saylor and Phong Le, the two founders, signed this letter together. Their message is clear: MSCI is on the wrong track, and the proposal is both "erroneous" and "biased.
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The core issue is a matter of definition. MSCI is considering classifying certain companies as "non-operational" — and those would be excluded from its indices.
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But MSCI seems to be targeting companies whose main activity revolves around digital assets.
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No surprise. Strategy is currently the largest corporate holder of Bitcoin globally, with 845,050 bitcoins in its portfolio.
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Strategy goes beyond mere protest. It directly attacks the logic behind MSCI's methodology. Labeling Bitcoin as a "non-operational" asset is, according to the company,…
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And this is where it gets interesting. Strategy doesn't just say the rule is unfair to it. It says the rule is arbitrary for everyone.
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See also: Solana burns 18.9 million SOL while Bitcoin targets quantum security
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For an institutional investor, it's a signal that's hard to ignore. Major index funds, ETFs, retirement plans — all use MSCI indices as a compass.
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The company also insists on a practical point: its investments in Bitcoin are integrated into its core operations, not tucked away in a speculative corner.
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It remains to be seen if MSCI will budge this time.
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But the picture for the year is less rosy. Since January, MSTR has lost 15%. It's the kind of figure that reminds you that Strategy is fundamentally a direct exposure to Bitcoin…
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