“Not a Fund, Not a Trust”: Saylor Draws the Line as MSCI Considers MicroStrategy’s Fate
MicroStrategy CEO Michael Saylor fired again at MSCI’s assessment of the firm’s classification, framing his agency as a hybrid working enterprise, not an funding fund.
The clarification comes amid a formal session on how digital asset treasury corporations (DATs) ought to be handled in flagship fairness indexes, a determination that would have main market penalties for MSTR.
Michael Saylor Draws the Line: “MicroStrategy Is Not a Fund or Trust” Amid MSCI Scrutiny
In a detailed submit on X (Twitter), Saylor emphasised MicroStrategy shouldn’t be a fund, not a belief, and never a holding firm.
“We’re a publicly traded working firm with a $500 million software program enterprise and a distinctive treasury technique that makes use of Bitcoin as productive capital,” he articulated.
The assertion positions MicroStrategy as greater than a Bitcoin holder, with Saylor noting that funds and trusts maintain property passively.
“Holding corporations sit on investments. We create, construction, problem, and function,” Saylor added, highlighting the firm’s lively function in digital finance.
This 12 months, MicroStrategy accomplished 5 public choices of digital credit score securities: STRK, STRF, STRD, STRC, and STRE. These complete greater than $7.7 billion in notional worth.
Notably, Stretch (STRC) is a Bitcoin-backed treasury instrument that gives variable month-to-month USD yields to each institutional and retail traders.
Saylor describes MicroStrategy as a Bitcoin-backed structured finance firm that operates at the intersection of capital markets and software program innovation.
“No passive car or holding firm might do what we’re doing,” he stated, stressing that index classification doesn’t outline the firm.
Why MSCI’s Decision Matters
MSCI’s consultation might reclassify corporations like MicroStrategy as funding funds, making them ineligible for key indexes such as MSCI USA and MSCI World.
Exclusion might set off billions in passive outflows and heighten volatility in $MSTR, which is already down roughly 70% from its all-time high.
The stakes lengthen past MicroStrategy. Saylor’s protection challenges traditional finance (TradFi) norms, asking whether or not Bitcoin-driven working corporations can preserve entry to passive capital with out being labeled as funds.
MicroStrategy holds 649,870 Bitcoin, with a mean price of $74,430 per coin. Its enterprise worth stands at $66 billion, and the firm has relied on fairness and structured debt choices to fund its Bitcoin accumulation technique.
The MSCI ruling, anticipated by January 15, 2026, might take a look at the viability of such hybrid treasury fashions in public markets.
The submit “Not a Fund, Not a Trust”: Saylor Draws the Line as MSCI Considers MicroStrategy’s Fate appeared first on BeInCrypto.
