Technique Slams MSCI As “Misinformed And Misguided”

Michael Saylor’s Technique slammed MSCI’s proposal to exclude from its indexes corporations that maintain greater than 50% of their property in crypto as “discriminatory, arbitrary, and unworkable,” and mentioned it undermines President Donald Trump’s purpose of constructing the US the crypto capital of the world.

In a letter to the index supplier signed by founder Saylor, Technique mentioned the proposed change would negatively influence MSCI’s fame as a impartial arbiter available in the market and bias it towards crypto as an asset class. 

”It might undermine the federal authorities’s purpose of selling digital property whereas stifling innovation, impeding financial improvement, and harming nationwide safety,” it mentioned. ”That is exactly the improper second to take steps that undermine this modern know-how.”

Technique has submitted its response to MSCI’s session on digital asset treasury corporations. Index requirements needs to be impartial, constant, and reflective of world market evolution. Learn our letter and share your assist: https://t.co/QVmKAkwRCP

— Technique (@Technique) December 10, 2025

CEO Phong Le added in a Dec. 10 interview with Schwab Community that the transfer can be ”misguided and misinformed.”

It “can be like within the Nineteen Eighties saying the telecom firm shouldn’t have constructed out cell towers and spectrum, or three years in the past saying AI corporations shouldn’t be investing in LL labs and high-performance compute,” he mentioned.

Technique’s letter mentioned many working corporations included in MSCI’s indices make investments closely in a single asset class. Oil and timber corporations like ExxonMobil and Weyerhaeuser have a good portion of their property in oil and timber reserves, it mentioned, whereas REITs like Simon Property Group make investments virtually solely in actual property.

”Many monetary establishments primarily maintain sure varieties of property after which bundle and promote derivatives backed by
these property (like residential mortgage-backed securities),” it added.

Technique On MSCI’s Shortlist With A number of Different Treasury Corporations

Technique’s broadside comes after MSCI introduced in October that it was consulting with the funding neighborhood about whether or not to exclude Bitcoin and different digital asset treasury (DAT) corporations which have greater than 50% of their stability sheet in crypto. 

In line with MSCI, DATs present traits of funding funds, moderately than working corporations that produce items and companies. 

It added that corporations which have capitalized on cryptos lack clear and uniform valuation strategies. This, MSCI argued, makes correct accounting of those corporations a difficult activity and probably skews index values. A choice is scheduled for Jan. 15. 

A number of crypto treasury corporations are liable to being eliminated. Corporations on MSCI’s shortlist embody main company Ethereum holder BitMine, and BTC miner MARA Holdings.

Technique is the most important DAT agency globally with 660,624 BTC on its stability sheet, knowledge from Bitcoin Treasuries exhibits. 

Technique BTC holdings (Supply: Bitcoin Treasuries)

Technique can also be thought-about the pioneer of the crypto treasury pattern, and began buying BTC in the direction of the tip of 2020. 

JPMorgan says its exclusion from MSCI indexes might result in as much as as much as $12 billion in misplaced shopping for energy for Technique’s inventory (MSTR) if different index suppliers additionally excluded it.

Nevertheless it says the influence of its potential exclusion is already priced in. MSTR has fallen 20% up to now month

Cantor Fitzgerald final week slashed its value goal for Technique’s shares by 60%, however maintained a “purchase” ranking for MSTR and mentioned fears of a selloff are ”overblown.”

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