According to @VanessaGrellet_, Strive urged MSCI to let the market decide how Bitcoin (BTC) treasury companies are treated, emphasizing that DAT companies have materially different corporate structures that warrant case-by-case assessment (source: @VanessaGrellet_ on X, Dec 5, 2025). For traders, the signal is to evaluate equity crypto-beta by company-specific balance-sheet exposure and governance design rather than assuming uniform index treatment across Bitcoin treasury names (source: @VanessaGrellet_ on X, Dec 5, 2025). Any MSCI index methodology decision on classification can influence index eligibility and passive flows, making forthcoming MSCI updates a key catalyst to monitor for crypto-exposed equities (source: MSCI Global Investable Market Indexes Methodology, MSCI).

According to @KobeissiLetter, Michael Saylor stated that MicroStrategy is "not a fund, not a trust, and not a holding company" and is instead a publicly traded operating company with a $500 million software business, directly addressing the MSCI index situation (source: @KobeissiLetter on X, Nov 21, 2025). He further emphasized a unique treasury strategy that uses Bitcoin, underscoring that BTC exposure is part of corporate treasury management rather than a fund structure, as relayed in the posted remarks (source: @KobeissiLetter on X, Nov 21, 2025). This clarification centers on corporate classification and index methodology considerations relevant to MSTR equity traders and BTC-linked strategies, as framed by the original post (source: @KobeissiLetter on X, Nov 21, 2025).