Michael Saylor Says Index Classification ‘Doesn’t Define’ MSTR Amid MSCI Exclusion Concerns

• Saylor’s comments follow JPMorgan’s warning that MSCI may remove MicroStrategy from major equity indices in January.
• JPMorgan noted potential outflows of $2.8 billion if excluded from MSCI, and $8.8 billion if other index providers follow suit.
• Saylor stated that funds and trusts passively hold assets, and holding companies sit on investments, whereas Strategy actively creates and operates.

Michael Saylor, executive chairman of Strategy (MSTR), addressed market concerns over potential index exclusion, emphasizing that index classification “doesn’t define” MSTR.

“Strategy is not a fund, not a trust, and not a holding company. We’re a publicly traded operating company with a $500 million software business and a unique treasury strategy that uses Bitcoin (BTC) as productive capital,” Saylor wrote on X.

Index Exclusion Risks Loom
Saylor’s remarks came after JPMorgan noted that Strategy could face exclusion from major equity indices as the January MSCI decision approaches. “Outflows could amount to $2.8 billion if Strategy is excluded from MSCI indices, and $8.8 billion from all other equity indices if other providers follow MSCI,” the firm said in its note.

“Index classification doesn’t define us.”

– Michael Saylor, Executive Chairman, Strategy

Saylor stated that Strategy operates differently from funds, trusts, or holding companies. “No passive vehicle or holding could do what we’re doing,” he wrote. “Funds and trusts passively hold assets, while holding companies sit on investments. Our team is building a new kind of enterprise—a Bitcoin-backed structured finance company capable of innovating in both capital markets and software.”

He reiterated that the MSTR’s strategy is long-term and rooted in Bitcoin-backed financial innovation, with a focus on active management and operational growth.

Get updates to this developing story directly on Stocktwits.

Read also: Bitcoin ETFs Hit Record Monthly Outflows In November – Average Investor Now in the Red, Says Analyst

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