Overview
- Strategy sent a formal letter signed by Michael Saylor and CEO Phong Le on Monday asking MSCI to withdraw the proposal, preserve consultation records, and justify the methodology.
- MSCI’s draft test first flags firms whose operating assets are under 50% of total assets and then applies five financial‑ratio screens where failing four would render a company ineligible for its Global Investable Market Indexes.
- A May 2026 MSCI simulation identified Strategy, Metaplanet and Yellow Cake for deletion and put three others on a watchlist while Strategy says it represents roughly 87% of the market value at stake.
- Strategy points to its August 10‑Q that reports Bitcoin as a separate operating segment and records fair‑value changes in operating results, arguing MSCI’s classification conflicts with reporting and accounting practice.
- Public comments close Sept. 30, MSCI expects to publish results by Oct. 16 with any changes applied in the November/December index review, and market watchers warn exclusions could trigger billions in forced selling even as Strategy notes MSCI‑tracking funds hold only about 3% of its shares.