# Non-Operating İlgili Makaleler

Strategy Counters MSCI's Plan to Exclude MSTR from Global Indices

Strategy Inc. (MSTR) has publicly challenged MSCI's proposal to exclude the largest corporate Bitcoin holder from its global equity indexes. The index provider's consultation introduces a two-step filter to identify "non-operating companies," where firms failing a primary operational assets test face further financial ratio screenings. MSTR, classified as such due to its Bitcoin treasury model, risks removal alongside firms like Yellow Cake and Metaplanet. MSCI estimates potential exclusion of three companies from its ACWI IMI index as of May, with MSTR being the only large-cap firm, facing an estimated $2.8 billion in passive fund outflows. The company argues that digital assets are legitimate and index providers should not dictate what assets companies hold. This new proposal replaces a previous, more crypto-specific rule that MSCI abandoned after criticism. With MSTR's stock trading close to the value of its Bitcoin reserves, its premium is minimal, and the availability of spot Bitcoin ETFs offers direct exposure without corporate risks. Feedback on the proposal closes September 30, with results announced by October 16 and any changes taking effect in November 2026.

cryptonews.ru08/15 12:35