Strive urges MSCI to ‘let the market decide’ on Bitcoin treasury companies
Strive is urging MSCI to avoid excluding companies with significant Bitcoin holdings from major equity benchmarks, advocating for a market-driven approach.Summary
Strive, a major public Bitcoin treasury holder, has called on MSCI to reconsider a proposal that would exclude companies with over 50% of their assets in digital assets from key equity indexes. In a letter to MSCI CEO Henry Fernandez, Strive argued that such a move would violate index neutrality and suggested allowing the market to determine the appropriate valuation of these companies. The firm highlighted that many Bitcoin-reserve companies also operate substantial businesses in sectors like AI and structured finance, and that a blanket exclusion is unjustified. JPMorgan estimates that Strategy, the largest public Bitcoin holder, could face billions in outflows if MSCI implements the change. Strive proposes MSCI offer optional indexes excluding digital asset treasuries instead of altering the composition of broad market indexes.
(Source：The Block)