Economist Peter Schiff has revived his long-running feud with Bitcoin, warning that shareholders in Michael Saylor’s company, Strategy, could come to rue the day they followed its “all-in” crypto play.
Writing on X, Schiff argued that the firm’s marathon buying spree will look reckless once the next major downturn takes hold, claiming the coin’s price “won’t stand up over time” and Strategy’s stock will fall with it.
Schiff’s critique arrives while Bitcoin trades in a choppy range that frequently drags Strategy’s share price along for the ride—up on green days, down on red. He contends many investors underestimate the risk baked into such tight correlation, describing the corporate balance-sheet wager as a bubble waiting to pop.
Saylor, for his part, doubled down almost instantly. Sharing a recent interview clip, the executive declared: “Our business is 100 percent Bitcoin—forever.” He framed BTC as the company’s lone performance benchmark and dismissed diversification as needless complexity that would blur Strategy’s mission. In Saylor’s view, concentrating on a single asset delivers transparency; anyone can audit the books and decide whether to back the vision.
That vision now rests on more than $65 billion worth of BTC underpinning Strategy’s equity and debt. Saylor likened the firm to “Switzerland in the crypto space”—neutral, consistent, and built for decades—while touting credit products designed to smooth the coin’s volatility without abandoning its upside. Whether that promise overrides Schiff’s doom-laden forecast remains a matter of faith for shareholders riding the same Bitcoin roller-coaster as their outspoken CEO.
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