Michael Saylor has issued a strong rebuttal to pressure from MSCI, which could lead to the classification of his company, Strategy (MSTR), being shifted in some global equity indices. With the stock price down 70% from its peak and the review threatening MSTR’s existence, Saylor insists that Strategy is not just a holding company or passive investment vehicle. Instead, he emphasizes it’s a fully operational enterprise with a $500 million software business and a growing financial product pipeline, actively creating and structuring digital credit products using Bitcoin as its primary asset. He argues that such active involvement sets Strategy apart from traditional funds.