Peter Schiff, chief economist at Euro Pacific Asset Management, stated on X today, November 13, 2026, that MSCI's decision to remove MicroStrategy from its index was not due to a bias against digital assets. Schiff challenged the narrative that MSCI dislikes digital assets, noting, ". claims that MSCI removed Strategy from its index because they don't like digital assets. But they also removed Yellow Cake, which owns uranium, for the same reason. MSCI wants to exclude companies that do not derive their market value primarily from operating businesses."
Schiff's comments come during ongoing discussions about Bitcoin's role in corporate balance sheets and market indices. Recent Gokhshtein Media coverage has highlighted Bitcoin's potential, with Strive's Burnett projecting an $11 million Bitcoin price by 2036, and David Gokhshtein calling for Bitcoin to reach and hold $60,000. MicroStrategy, led by Michael Saylor, is a prominent corporate holder of Bitcoin, making its index inclusion status a relevant point of discussion for digital asset investors.
Schiff's analysis suggests that MSCI's index methodology prioritizes companies with primary operating businesses. This implies that entities whose market value largely stems from holding non-operating assets, whether digital like Bitcoin or physical like uranium, might face similar exclusion from certain traditional indices. Investors will be watching how index providers continue to adapt their rules for companies with significant non-operating asset holdings.
