Peter Schiff, a longtime gold investor and vocal critic of Bitcoin, on Sunday known as Technique’s Bitcoin-only strategy a “fraud” and publicly challenged Michael Saylor in a dwell debate at Binance Blockchain Week in Dubai in December.
Schiff stated the corporate’s latest earnings have been primarily linked to Bitcoin’s market value, and warned that the corporate’s monetary construction may collapse if investor sentiment modifications.
Sif’s Core Cost
Mr. Schiff stated little of Technique’s reported earnings have been realized and that the corporate’s monetary plans are in danger.
He publicly criticized the corporate, saying, “MSTR’s whole enterprise strategy is a fraud. Irrespective of how Bitcoin performs, I anticipate MSTR to ultimately face chapter.”
MSTR’s whole enterprise mannequin is a rip-off. Saylor and I’ll each be talking at Binance Blockchain Week in Dubai in early December. i problem @Sailor To debate this proposal with me. It doesn’t matter what occurs to Bitcoin, I imagine $mstrer Finally they may go bankrupt. Let’s go!
— Peter Schiff (@PeterSchiff) November 16, 2025
He cited the corporate’s third-quarter outcomes (internet revenue of $2.8 billion, diluted EPS of $8.42) for instance of earnings, which he attributed to the rise available in the market worth of Bitcoin moderately than steady enterprise operations.
Schiff stated most well-liked shares marketed as excessive yields might by no means produce the promised returns, which may result in heavy promoting by yield funds.
In line with Technique’s personal report, the corporate held roughly 640,808 BTC as of late October, representing a complete value of roughly $47.44 billion and an implied value of roughly $74,032 per coin.
MSTR’s enterprise mannequin depends on income-focused funds shopping for the corporate’s “high-yield” most well-liked inventory. Nevertheless, the revealed yield is rarely really paid. When fund managers notice this, they may let go of their most well-liked funds. $mstrer No extra could be issued and a loss of life spiral begins.
— Peter Schiff (@PeterSchiff) November 16, 2025
The corporate reported a 26% BTC yield year-to-date and stated it has realized practically $13 billion in BTC earnings up to now in 2025.
These numbers assist clarify why the corporate posted sturdy accounting earnings although its core software program enterprise did not generate as a lot income.
Dialogue session attracts consideration
Mr. Schiff’s problem coincides with Mr. Saylor’s talking schedule on the Dubai convention, doubtlessly turning what may have been a routine look right into a public showdown.
Market individuals say the dialogue will probably be intently watched by buyers, regulators and different company issuers contemplating Bitcoin publicity.
Some analysts say the technique, whereas dangerous, offers a method for buyers to realize leveraged publicity to Bitcoin via publicly traded corporations.
Others agree with Schiff that accounting and financing selections expose shareholders to sudden modifications.
Mr. Saylor and Mr. Technique didn’t instantly settle for or decline invites to debate in public remark.
Featured picture from Unsplash, chart from TradingView
