Bitcoin Strategy Warns MSCI Exclusion of Crypto-Treasuries Poses National Security Risk
Bitcoin Strategy filed a 12-page letter to MSCI arguing that excluding crypto-treasury firms from indices would undermine U.S. national security and contradict the Trump administration's pro-crypto policy. The letter contends that MSCI's neutrality would be questioned by regulators if it discriminates against asset types and calls for neutral, consistent index standards reflecting global market evolution. Strategy argues that crypto-buying firms are legitimate companies and should be eligible for inclusion, criticizing the 50% digital-asset threshold as arbitrary and discriminatory. MSCI's proposal to exclude companies holding more than 50% digital assets could drive large asset outflows; JPMorgan has warned such outflows might reach approximately $2.8 billion. The letter emphasizes the Trump administration's stance on digital asset innovation and argues this is not the right moment to restrict crypto technology. It also notes that several firms, including the Trump Media & Technology Group, began purchasing crypto this year. Bitcoin Strategy's stock traded above $184 by the end of trading but fell more than 2% that day, with its shares having declined about 53% over six months amid fading hype around crypto-buying firms. The move occurs amid a broader policy environment, including the GENIUS Act on stablecoins and concerns from Senator Elizabeth Warren about the bill, while former President Trump has framed crypto as a national security edge against China.
