Strategy calls MSCI’s proposed index rules “discriminatory” against digital asset treasury firms, urging the index provider to withdraw the screening framework

In a Monday letter signed by Executive Chairman Michael Saylor and CEO Phong Le, Strategy called MSCI's consultation "discriminatory, arbitrary, and misguided" and a "pretext" to remove digital asset treasury firms from indices, urging its withdrawal. MSCI's proposal subjects firms with operating assets below 50% of total assets to five financial-ratio checks; triggering four flags means index ineligibility. A May 2026 simulation flagged Strategy, Metaplanet and Yellow Cake for deletion. Strategy argued the operating/non-operating distinction is undefined under GAAP and IFRS. MSCI's feedback window closes Sept. 30, with results due Oct. 16 and changes effective December.

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