MSCI Spares MicroStrategy — but the Market’s War Over Its Bitcoin Premium Remains

MSCI’s decision to retain Digital Asset Treasury Companies (DATCOs), such as MicroStrategy, in its global equity indexes has alleviated fears of an immediate forced-selling event. However, far from settling the debate, the ruling has exposed a deeper and increasingly contentious question: whether a company whose balance sheet is dominated by Bitcoin should be treated as an operating business or as a leveraged investment vehicle masquerading as equity. MSCI Decision Defuses Immediate Sell-Off but Sparks Deeper Debate Over MicroStrategy In an announcement released late Tuesday, MSCI said it would not proceed with a proposal to exclude DATCOs from the MSCI Global Investable Market Indexes during the February 2026 review. At the same time, the index provider made clear that scrutiny is far from over source: https://beincrypto.com/msci-pauses-microstrategy-exclusion-datco-index-review/