cryptopolitan.com
Strive, a structured-finance company listed on Nasdaq and one of the world’s largest public corporate holders of Bitcoin, is fighting MSCI’s proposal to exclude Bitcoin-heavy companies from major global equity benchmarks.
The firm sent a letter this week to Henry Fernandez, MSCI’s CEO, stating that the proposed exclusion would violate the “long-established principle of index neutrality.” Strive said such benchmarks need to be based on the market for digital currency and not contain special rules around considerations when companies hold digital assets.
Strive now has over 7,500 BTC. This makes it one of the largest public companies in the world to hold Bitcoin on its balance sheet. The firm said its heritage provides it with a unique understanding of how Bitcoin-treasury companies operate, and why blanket exclusions would distort markets.
Strive argues the 50% threshold is flawed
Strive’s response emphasized matters of methodology and fairness. The 50% digital-asset threshold is unjustified, overbroad, and unworkable, according to the firm. It argued that the rule does not account for the broad category to which the Bitcoin treasury has become.
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