MicroStrategy Calls Morgan Stanley’s Index Plan “Discriminatory” as Consultation Continues

MicroStrategy has strongly opposed the proposal by Morgan Stanley Capital International (MSCI) to exclude companies whose treasuries are heavily weighted in Bitcoin from major equity indexes. In a formal response, MicroStrategy argued that MSCI's proposed 50% digital-asset threshold fundamentally misrepresents its operating model, asserting it is an operating business that uses Bitcoin reserves for capital raising, unlike a passive investment fund. The company labeled the rule discriminatory because it targets them while ignoring similarly concentrated sectors like oil or real estate. This controversy began when MSCI launched a consultation on classifying Digital Asset Treasuries (DATs). JPMorgan previously warned that such an exclusion could force billions in selling pressure on MicroStrategy's stock, potentially impacting liquidity and increasing its cost of capital. The consultation period remains open until December 31, with the outcome shaping how corporate Bitcoin treasury strategies are viewed in public markets.

(Source：BeInCrypto)