Michael Saylor, executive chairman of MicroStrategy, stated that the potential exclusion of Bitcoin treasury firms from MSCI indexes will not significantly impact the company's operations. He criticized the proposed methodology for identifying non-operating companies as biased against digital assets.
MSCI is expected to announce its final decision by October 16, 2026. Analysts at JPMorgan estimate that if MicroStrategy is removed from the MSCI ACWI Investable Market Index, it could trigger approximately $2.8 billion in passive investment outflows.
MicroStrategy has formally contested the proposal, arguing that index providers should reflect current market conditions rather than influence corporate strategy. The company currently holds over 848,000 BTC following a recent acquisition of 250 additional Bitcoin.
This initiative marks MSCI’s second attempt to address the classification of digital asset treasury companies, following a previous effort in January 2026. The current consultation process concluded on September 30, 2026, and any changes may affect the November 2026 index review.
