In response to the growing concerns about potential exclusion, Saylor took to social media platform X (formerly Twitter) to clarify that Strategy is not a fund, a trust, or a holding company.
Saylor highlighted that in the current year alone, Strategy has executed five public offerings of digital credit securities—STRK, STRF, STRD, STRC, and STRE—totaling over $7.7 billion in notional value.
Furthermore, the firm launched Stretch (STRC), a new Bitcoin-backed treasury credit instrument designed to generate variable USD yields for both institutional and retail investors.
He emphasized that while funds and trusts passively hold assets and holding companies simply sit on investments, Strategy actively creates, structures, issues, and operates financial products.
Saylor also believes that index classification should not define the firm’s identity. He reassured stakeholders that their long-term strategy remains intact, stating:
…Our conviction in Bitcoin is unwavering, and our mission remains unchanged: to build the world’s first digital monetary institution on a foundation of sound money and financial innovation.
They noted that while active managers are not required to follow index changes, exclusion from these key indices would likely be interpreted negatively by market participants, ultimately leading to a decrease in liquidity and raised funding costs.
To reflect this perspective, MSCI is proposing to exclude companies with digital asset holdings constituting 50% or more of their total assets from its global investment market indices.
Featured image from Bloomberg, chart from TradingView.com
