“JPMorgan warning on potential MSCI exclusion sparks fresh pressure, prompting another public response from the executive chairman.”, — write: www.coindesk.com
Last Friday, Saylor dismissed rumors that the company was selling bitcoin, stating there was “no truth to the rumor.”
Meanwhile, on Thursday, market nerves were hit again after JPMorgan warned that an upcoming MSCI decision could force MSTR out of major equity indices, potentially triggering further downside volatility.
Saylor responded once more on X, defending the company’s status within the MSCI framework and stressing that Strategy is a publicly traded operating company with a roughly $500 million software business at its core.
“Strategy is not a fund, not a trust, and not a holding company. We are a publicly traded operating company with a $500 million software business and a unique treasury strategy that uses bitcoin as productive capital,” Saylor said.
Saylor argued that while funds and trusts passively hold assets, Strategy is actively creating, structuring and issuing products, positioning the company as a new type of bitcoin-backed structured finance enterprise.
“This year alone, we have completed five public offerings of digital credit securities, STRK, STRF, STRD, STRC and STRE, representing more than $7.7 billion in notional value,” Saylor added.
Saylor concluded that no passive vehicle or holding company could replicate what Strategy has built.
MSTR shares are down another 3% on Friday, trading near $171.
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- GoPlus Intelligence’s Token Security API averaged 717 million monthly calls year-to-date in 2025, with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
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Rival crypto asset manager Bitwise launched its XRP ETF earlier this week.
- Grayscale’s Dogecoin (GDOG) and XRP (GXRP) ETFs will begin trading on NYSE Arca, offering spot exposure to each asset.
- The launches follow rising demand for altcoin ETFs, with Bitwise and Franklin Templeton also expanding into DOGE, XRP and Solana products.
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