Michael Saylor: MSCI's Planned Exclusion of MSTR Reflects Bias Against Digital Assets, Could Set a Bad Precedent for the Industry

On October 18, Strategy founder Michael Saylor told Bloomberg that if new MSCI index rules result in MSTR being removed, the impact on Strategy itself would be limited due to the relatively small scale of associated passive capital, though the move could set a "bad precedent" for the digital asset industry.

Saylor noted that MSCI treats oil, natural gas, land, and machinery as capital while refusing to grant Bitcoin equal status, reflecting a value judgment on digital assets. Responding to debates over whether Strategy qualifies as an operating enterprise, he stated that banks conduct business through credit facilities and insurance companies through policies, whereas Strategy leverages Bitcoin to underpin digital credit products, and should therefore be classified as an operating financial firm. Saylor hopes MSCI will reconsider its proposal.