Saylor criticizes MSCI for bias against digital assets, stating that Strategy is an operating company.

October 18: Strategy founder Michael Saylor recently said on a Bloomberg program that MSCI's stance of planning to exclude companies such as Strategy from global equity indexes is disappointing. He believes that treating oil, natural gas, land, and machinery as capital while not treating Bitcoin as capital is imposing a biased value judgment and acting like an unregistered investment adviser. This exclusion has limited impact on Strategy, but he hopes MSCI will reconsider.

Saylor emphasized that Strategy is an operating company whose product is "digital credit," and that it is a financial operating enterprise like banks and insurance companies, not a holding company. Previously, MSCI finalized rules to exclude "non-operating companies" from its global investable market indexes, planned to take effect after the close on November 30, with the final list of affected companies to be announced on November 11.