MSCIはMicroStrategyの除外を一時保留しましたが、そのビットコインのプレミアムに関する議論は依然として解決していません
MSCI recently announced that it will not temporarily remove MicroStrategy (now renamed to Strategy) from its global equity indices, a decision that has eased market concerns about potential forced selling. However, this ruling has not quelled the controversy; rather, it has sparked deeper discussions: should companies with bitcoin as their primary balance sheet asset be viewed as traditional enterprises, or as leveraged cryptocurrency investment vehicles?
MSCI's latest statement indicated that it will defer the proposal to remove DATCO (Digital Asset Technology Company) in the February 2026 review, emphasizing that the review is still ongoing. While companies like MicroStrategy can continue to remain in the indices, MSCI has implemented certain restrictions on these companies. These measures include not increasing the share quantity of these companies, foreign inclusion factors or domestic inclusion factors, and deferring the addition or adjustment of their size segments. This action effectively freezes these companies' share in the indices, limiting future passive capital inflows, especially when these companies issue new shares.