Strive is pushing back hard against MSCI’s plan to boot Bitcoin-holding companies from its indexes. CEO Matt Cole sent a letter to MSCI’s chairman urging them to “let the market decide” instead of forcing this exclusion.
The proposal would kick out any company with more than 50% of its assets in digital currencies. That’s a huge deal because JPMorgan analysts warned MicroStrategy alone could lose $2.8 billion if MSCI goes through with it. Companies included in MSCI indexes get massive passive investment inflows, so losing that spot would hurt badly.
Cole’s arguing the exclusion doesn’t even make sense. He points out that major Bitcoin miners like MARA Holdings, Riot Platforms, and Hut 8 are rapidly pivoting their data centers to provide power for AI computing. “Many analysts argue that the AI race is increasingly limited by access to power, not semiconductors,” Cole said. These companies are perfectly positioned for that demand.
He also said the 50% threshold is totally unworkable in practice. Bitcoin’s volatile, so companies would constantly flicker in and out of the index based on price movements. That creates tracking errors and raises management costs for everyone.
Cole’s suggesting MSCI create an “ex-digital asset treasury” version of its indexes instead. That way investors who want to avoid Bitcoin companies can choose that benchmark, while others can stick with the standard version.
Conclusion
Strive’s challenge to MSCI highlights tensions between traditional finance gatekeepers and emerging Bitcoin treasury businesses, with billions in passive investment flows hanging in the balance as index providers navigate cryptocurrency’s growing market presence.
Also Read: Upbit Halts Trading
