MSCI Inc. faces a challenge from a Bitcoin policy think tank over its latest proposed index rules. The changes could set stricter criteria that may lead to firms with significant crypto treasuries, including Strategy and Metaplanet, being removed from MSCI benchmark indexes. The debate has drawn added attention to MSCI shares amid recent price declines.
Some analysts suggest MSCI may be undervalued. One valuation view puts the company’s fair value well above its recent closing price, citing the high incremental margins of its information and software-based products. That optimistic view depends on MSCI implementing the index rule changes without significant client pushback and maintaining stable recurring-fee economics.