Saylor Pushes Back Against Outflow Warnings
Michael Saylor has dismissed recent reports suggesting that Strategy could face billions in passive outflows if MSCI decides to exclude the company from its major equity indices. Addressing the issue on X, Saylor emphasized that Strategy is “not a fund, not a trust, and not a holding company,” pushing back against narratives framing the firm as an index-dependent entity.
Instead, he described Strategy as a publicly traded operating company with a long-standing $500 million software business. According to Saylor, the company’s approach to Bitcoin is not about passive holding but about using the digital asset as “productive capital” within a unique treasury strategy that supports long-term value creation.
Company Activity and Digital Credit Offerings
Saylor also pointed to the firm’s active market participation as evidence of its operational strength. Strategy recently completed five public offerings of digital credit securities — $STRK, $STRF, $STRD, $STRC, and $STRE — which together represent more than $7.7 billion in notional value.
He cited these offerings as proof that Strategy continues to innovate and expand, reinforcing his argument that the company’s business model is fundamentally different from the passive structures often affected by index adjustments.
