Peter Schiff has been calling it for years: the collapse of Bitcoin, the downfall of Strategy, the inevitable moment when the numbers stop going up and the whole house of cards comes crashing down.
Now, with Michael Saylor's latest Bitcoin purchase pushing its holdings past 500,000 BTC, Schiff sees it as nothing more than another delay before the inevitable. In his view, there is only one thing keeping Bitcoin afloat at this point - Strategy’s relentless buying.
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The moment that stops, he is convinced, both Bitcoin and Strategy itself will crash, with Strategy facing outright bankruptcy.
Schiff vs. Strategy, Bitcoin and Saylor
This is not a new argument from Schiff, but with Bitcoin hitting an intraday high of almost $88,000 and Strategy securing another $711 million through its latest preferred stock offering, Strife (STRF), he is doubling down.
His critique is simple: Strategy’s entire play hinges on being able to keep raising money, keep issuing stock and keep convincing investors to pour more cash into a business that, by traditional metrics, does not make sense.
The only way Bitcoin won't collapse is if MSTR continues buying indefinitely. But at some point you will not be able to sell any more MSTR stock or borrow money to keep buying. Then both Bitcoin and MSTR will crash, sending MSTR into bankrupt.
— Peter Schiff (@PeterSchiff) March 24, 2025Related
Mon, 03/24/2025 - 12:17 Saylor's Strategy Profits Skyrocket Above $10,000,000,000
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Schiff, ever the Bitcoin antagonist, sees this as the perfect setup for disaster. But here’s the irony: while he continues to tear down Bitcoin and its biggest corporate believer, he is also quietly stacking sats.
Not by buying, of course. That would be against everything he has ever preached. Instead, he is letting others do it for him.
Schiff's Bitcoin reserve
On his 62nd birthday, he publicly shared a Bitcoin address, inviting donations. The reasoning? He will not buy Bitcoin, but he is not opposed to receiving it from others. As long as he does not sell, he considers himself consistent.
So far, the balance in Schiff’s public wallet sits at 0.053 BTC, worth about $4,710. Not exactly whale status, but for a man who has spent years dismissing Bitcoin as worthless, it is a telling contradiction.
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Sun, 03/23/2025 - 15:06 Peter Schiff Announces Update to His Strategic Bitcoin Reserve
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Whether it is hypocrisy, irony or just good old-fashioned opportunism, Peter Schiff remains Bitcoin’s loudest critic - and now, in a small but undeniable way, a participant in the very system he insists is doomed to fail.
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