Strategy says MSCI’s 50% bitcoin test risks index ‘whiplash’ and conflicts with US pro-innovation policy

Strategy sent a 12-page letter to the MSCI Equity Index Committee urging them to drop a proposal that would exclude companies whose digital-asset holdings exceed 50% of total assets from global equity benchmarks. Strategy argues this 50% threshold would cause index "whiplash" and "chaos and confusion" for providers and investors due to fluctuating bitcoin prices and differing accounting standards (IFRS vs. U.S. GAAP). Furthermore, the company contends the rule clashes with U.S. pro-innovation policy, citing initiatives promoting digital-asset development, and would effectively block bitcoin-reserve firms from the passive investment universe. MSCI began reviewing the inclusion of digital-asset treasury companies in October, a move that would significantly impact Strategy, the largest public bitcoin holder. Industry pushback also includes suggestions for optional index variants excluding digital asset treasuries.

(Source：The Block)