Strive, the fifth-largest Bitcoin treasury company globally, has filed feedback opposing MSCI’s proposal to exclude crypto-holding companies from its global index. Strive is requesting that MSCI clearly define “operating assets” and provide a “future qualification path” to allow companies to adapt. The core argument centers on Strategy’s digital credit model, backed by BTC and cash reserves, which Strive argues qualifies these companies as operating companies similar to insurers or banks. TD Securities supported this position, noting that the primary product is not Bitcoin itself but differentiated forms of Bitcoin-backed exposure. MSCI is expected to finalize its decision in October and rebalance the index in November if the changes are adopted.
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