Bitcoin Treasury Strategy Responds to MSCI's Potential Index Removal

Bitcoin Treasury Strategy has publicly stated that it “doesn’t need” Morgan Stanley Capital International (MSCI) following the index provider's announcement of a possible removal of the company from its Global Investable Market Indexes (GIMI). MSCI is currently consulting on a proposal to classify companies as “Non-Operating Companies,” which would exclude firms primarily known for holding Bitcoin, like Strategy, from major indexes.

MSCI's proposal has raised concerns as it could lead to an estimated $2.8 billion in passive selling if adopted. The consultation, which includes other companies like Metaplanet and Yellow Cake, is open until September 30, with MSCI indicating that the outcome may vary based on feedback.

In a statement on X, Strategy criticized MSCI's approach, arguing that index providers should reflect market realities rather than dictate corporate asset allocations. The company emphasized that Bitcoin does not require MSCI's endorsement to thrive.

As of May 2026, both Strategy and Metaplanet met the criteria for potential removal under MSCI's proposed rules. If implemented, this could trigger forced selling by index-tracking funds, impacting the companies' market presence.

Strategy, formerly known as MicroStrategy, has been a significant player in the Bitcoin market, having invested approximately $63.3 billion in the cryptocurrency since August 2020. The company has recently altered its strategy, selling Bitcoin and focusing on cash reserves, which may further influence its standing in the index.