Technique Slams MSCI As “Misinformed And Misguided”

Michael Saylor’s Technique slammed MSCI’s proposal to exclude from its indexes companies that maintain greater than 50% of their belongings in crypto as “discriminatory, arbitrary, and unworkable,” and stated 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 stated the proposed change would negatively affect MSCI’s status as a impartial arbiter available in the market and bias it in opposition to crypto as an asset class. 

”It could undermine the federal authorities’s purpose of selling digital belongings whereas stifling innovation, impeding financial growth, and harming nationwide safety,” it stated. ”That is exactly the flawed second to take steps that undermine this progressive expertise.”

Technique has submitted its response to MSCI’s session on digital asset treasury firms. Index requirements ought 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 Eighties saying the telecom firm shouldn’t have constructed out cell towers and spectrum, or three years in the past saying AI firms shouldn’t be investing in LL labs and high-performance compute,” he stated.

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

”Many monetary establishments primarily maintain sure sorts of belongings after which package deal and promote derivatives backed by
these belongings (like residential mortgage-backed securities),” it added.

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

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) companies which have greater than 50% of their steadiness sheet in crypto. 

In accordance with MSCI, DATs present traits of funding funds, reasonably than working firms that produce items and providers. 

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

A number of crypto treasury firms are vulnerable to being eliminated. Companies 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 steadiness sheet, information from Bitcoin Treasuries exhibits. 

Technique BTC holdings (Supply: Bitcoin Treasuries)

Technique can also be thought of the pioneer of the crypto treasury pattern, and began buying BTC in the direction of the top 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.

But it surely says the affect of its potential exclusion is already priced in. MSTR has fallen 20% prior to now month

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

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