Peter Schiff Questions Strategy’s Inclusion In Global Equity Indexes After JPMorgan’s Warning: Bitcoin Bull Michael Saylor Calls Report ‘Alarmist’
Renowned economist Peter Schiff dismissed Strategy Inc. (NASDAQ:MSTR) as nothing more than a “highly leveraged” Bitcoin (CRYPTO: BTC) bet on Sunday, arguing against its inclusion in global equity benchmarks.
Strategy Not A ‘Real Operating Business,’ Says Schiff
In an X post, Schiff highlighted last week’s report by JPMorgan analysts that the company risks delisting from major equity indices, such as the MSCI World Index and Nasdaq 100, due to the ongoing sell-offs.
The analysts estimated that roughly $9 billion of Strategy’s $50 billion market value sits in passive funds that track these indices, according to CoinDesk, and that removal from MSCI alone could trigger about $2.8 billion in passive outflows.
“It never should have been included in those indexes in the first place. It’s not a real operating business,” Schiff said about the Michael Saylor-founded firm.
The Bitcoin critic argued that passive index funds should not be “compelled” to buy the company’s stock.
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