Bitcoin Magazine

Strategy Opposes MSCI Proposal, Says Bitcoin Treasury Firms Are Being Targeted a Second Time

Bitcoin treasury Strategy has blasted Morgan Stanley Capital International’s proposal to exclude it from its Global Investable Market Indexes, calling it “misguided” and “flawed.” 

Writing in a letter to MSCI Monday, the Nasdaq-listed Bitcoin behemoth’s founder, Michael Saylor, and CEO, Phong Le, said that the company was discriminating against digital asset businesses. 

MSCI said earlier this month that it was consulting on a plan to define “non-operating companies” and make them ineligible for its Global Investable Market Indexes. The removal of such companies would exclude firms like Strategy from indexes visible to a large pool of institutional investors. 

Strategy responded today to MSCI’s proposed “non-operating company” exclusion. While not material to $MSTR, the proposal is misguided, flawed, and conflicts with established securities laws and accounting principles. Read our letter and share your support: https://t.co/Vup3T5TbvY

— Strategy (@Strategy) August 31, 2026

MSCI’s latest proposal comes after the company in 2025 proposed excluding from its indices all companies whose digital-asset holdings represent 50% or more of total assets. 

“MSCI’s continued effort to discriminate against digital assets is misguided and calls into question MSCI’s neutrality and reliability,” Strategy’s letter read. 

It added: “The proposal, like the 2025 proposal that MSCI withdrew, is discriminatory, arbitrary, and misguided. If adopted, the proposal would have no meaningful impact on Strategy’s business, but it would profoundly harm MSCI’s reputation as a reliable and neutral index provider. Like the 2025 proposal, the current proposal should be withdrawn.”

Strategy argued that MSCI was relying on unprecedented classifications to define Bitcoin as a “non-operating” asset. Strategy said it reports its Bitcoin business as an operating segment and its Bitcoin gains and losses as operating expenses. 

The company said that MSCI’s methodology for targeting “non-operating companies” was “arbitrary and unexplained,” and was just a way of unfairly targeting digital asset treasuries. 

Strategy further argued that the company is an operating one, employing 1,500 people across the globe and actively using its Bitcoin to “create shareholder value.”

Strategy — formerly MicroStrategy — is an enterprise software company that pivoted to buying and holding bitcoin in 2020. It first bought the cryptocurrency to protect shareholders but has since aggressively bought the asset and is now the largest corporate holder of the cryptocurrency, with 845,050 bitcoins worth $65.8 billion at today’s prices. 

Investors can buy Strategy’s Nasdaq-listed stock (MSTR) to get heightened exposure to bitcoin’s performance. 

MSTR closed Monday trading 4% higher. Year-to-date, the stock is down 15%. 

This post Strategy Opposes MSCI Proposal, Says Bitcoin Treasury Firms Are Being Targeted a Second Time first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.

Bitcoin Magazine

Strategy Again Skips Bitcoin Buy And Establishes USD Cash Dollar Reserve 

Bitcoin treasury Strategy has established a new cash reserve that it will use to buy Bitcoin, according to a Monday filing. 

The Nasdaq-listed company said it not only had increased its typical cash buffer to $5.1 billion but also created another pot of $1.59 billion which it may use to buy bitcoin and stock. 

Strategy has not bought bitcoin since June, instead focusing on stock buy-backs and creating a cushion — as well as occasionally selling bitcoin. 

Strategy increased USD Reserve to $5.10B, established additional USD Cash of $1.59B, and repurchased $136M of $STRC. As of 8/23/26: Strategy holds ~4% of Total BTC Supply and has ~0% Net Leverage. $MSTR https://t.co/WZ9GFtJBXh

— Michael Saylor (@saylor) August 24, 2026

“USD Cash is a separately designated pool of U.S. dollar liquidity that the Company may retain for future deployment for general Bitcoin Treasury Company purposes, which may include acquiring bitcoin, paying declared cash dividends on Strategy’s preferred stock and interest on its outstanding indebtedness, repurchasing Strategy’s MSTR Stock or preferred stock, repaying, repurchasing or redeeming Strategy’s outstanding convertible notes, increasing the USD Reserve, and other similar Bitcoin Treasury Company purposes,” the filing stated. 

Strategy has said that its buyback plan — approved in July — is about balance-sheet strength rather than retreat. President and CEO Phong Le has said that Strategy intends to remain a long-term bitcoin buyer. 

Shares of Strategy (Nasdaq: MSTR) were trading higher Monday morning in New York. The company’s stock rallied last week as the price of bitcoin rose. 

Strategy said in the filing that it sold about $2 billion in common shares last week, and also repurchased $136.4 million of its Stretch preferred shares.

Corporate software company Strategy — formerly MicroStrategy — started buying bitcoin in 2020 as a way to protect shareholder returns. 

It has since spent nearly $64 billion on the cryptocurrency largely using leverage and now holds 840,447 BTC worth $66.4 billion at today’s prices, making it the largest corporate holder of the digital coin. 

Investors can get exposure to Bitcoin via stock and dividend-paying instruments that Strategy has issued. 

Bitcoin’s price recently stood at $79,031, up 25% over a seven-day period. 

This post Strategy Again Skips Bitcoin Buy And Establishes USD Cash Dollar Reserve  first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.