Strategy Pushes Back on MSCI's Digital Asset Exclusion Proposal

Source: CryptoNewsNet Original Title: Strategy Pushes Back on MSCI’s Digital Asset Exclusion Proposal Original Link: Strategy has written a formal letter in response to MSCI’s proposal to exclude companies whose digital asset holdings represent 50% or more of total assets from MSCI Global Investable Market Indexes.

Led by Executive Chairman Michael Saylor, Strategy argued that digital asset treasury companies (DATs), including Strategy itself, are operating businesses that use digital assets as productive capital, not passive vehicles for tracking price movements. Strategy builds bitcoin backed credit instruments, manages an active corporate treasury program and maintains a global enterprise analytics software business. Investors buy the company’s strategy and management, not a static wrapper for bitcoin, the company said.

Already under serious pressure thanks to falling bitcoin prices and a narrowing mNAV (the premium to bitcoin holdings at which investors value a company), Strategy shares tumbled even further two weeks ago as the MSCI proposal came to light. Strategy stands to lose many billions in passive capital flows should it be removed from MSCI indexes.