Is Microstrategy, now often known as Technique, on the point of a reclassification that will expel it from main inventory indexes? Uncertainty surrounds the corporate led by Michael Saylor after hypothesis about its standing as a monetary entity, a debate that has ignited social networks.
MSCI’s announcement on October 10 about an extension of its score evaluation, coupled with warnings from analysts reminiscent of these at JP Morgan, has generated confusion about whether or not the corporate, with its large guess on bitcoin as a productive capital asset, suits into the normal parameters of an index.
In the meantime, Saylor defends his imaginative and prescient of Technique as an revolutionary firm, operationally centered and much from being a easy fund or belief.
What’s the origin of the controversy with Technique?
This lies in MSCI’s proposal to reclassify Technique as a fund-like car, resulting from its in depth Bitcoin holdings.
This determination may very well be finalized on January 15, 2026 based on current statements. This may jeopardize its inclusion in indices such because the MSCI USA or the MSCI World, the place the corporate has a big presence.
On the time of writing and since October, MSCI is finishing up an extension of its market classification evaluation along with its traders.
Throughout this course of, the accessibility, dimension and liquidity of the businesses included in its indices are analyzed, evaluating whether or not, amongst different treasury firms with digital belongings, Technique meets the established standards to keep up its present standing, or if it requires a reclassification to a unique class, reminiscent of that of an funding fund.
In observe, which means the potential for excluding DATs from the MSCoI inventory index is open. These are treasury firms with digital belongings who keep greater than 50% of their stability in crypto belongingsTechnique being one in every of them.
JP Morgan resurrected the subject on November 20, 2025, suggesting potential capital outflows of as much as $8.8 billion if different index suppliers comply with swimsuit with DATs.
Michael Saylor takes the ground
In response, Michael Saylor has taken the ground to distance himself from the accusations that will be creating FUD (concern, uncertainty and doubt) across the firm.
In a publish on X on November 21, 2025, he said:
“Technique isn’t a fund, it’s not a belief and it’s not a holding firm. We’re a publicly traded working firm with a $500 million software program enterprise and a novel treasury technique that makes use of Bitcoin as productive capital.”
Michael Saylor, CEO de Technique.
Saylor highlighted the distinction with passive entities reminiscent of funding funds, highlighting that his firm “creates, constructions, points and operates” by devices such because the 5 digital credit score points —$STRK, $STRF, $STRD, $STRC and $STRE—, “which whole greater than 7.7 billion {dollars} in nominal worth.”
He additionally launched Stretch ($STRC) as a “revolutionary” bitcoin-backed product, providing month-to-month returns in US {dollars}. In keeping with Saylor, this product positions Technique as “the world’s first digital financial establishment constructed on sound cash and monetary innovation.”
Saylor’s place is echoed by some analysts.
For instance, Adam Livingston famous on November 22, 2025 in X that “MSTR’s technique isn’t that of a passive fund; it’s an energetic firm leveraging BTC as a treasury asset.” So, I might counsel that the reclassification might underestimate the operational nature of the corporate.
In keeping with James E. Thorne, It’s incorrect to imagine that Technique is only a bitcoin treasury firm.
The mainstream media and Wall Avenue proceed to wrongly label MicroStrategy (MSTR) as a mere Bitcoin treasury whose sole perform is to personal Bitcoin, ignoring its way more disruptive technique. In actuality, MSTR is actively utilizing Bitcoin as pure and clear capital to develop a brand new era of digital credit score merchandise that problem the dominance of conventional monetary establishments.
James E. Thorne, PhD in Economics.
These feedback reinforce Saylor’s narrative, though they don’t eradicate doubts concerning the monetary impacts of an eventual exclusion from MSCI.
How does the controversy with Technique have an effect on the worth of bitcoin?
Technique’s scenario and its attainable reclassification by MSCI may very well be placing strain on the worth of bitcoin (round $80,000 on the time of writing) given the corporate’s position as one of many largest institutional holders of the crypto asset. The truth is, a sector of opinion imagine that what’s offered on this article is the elemental issue why bitcoin has fallen beneath $100,000.
If Technique have been to face capital outflows out of concern or resulting from efficient delisting from inventory indices, traders might interpret this as an indication of warning in the direction of firms linked to crypto belongingswhich might set off better gross sales of BTC of their holdings to regulate balances, affecting its value downwards within the quick time period.
