Peter Schiff, a longtime gold investor and vocal critic of Bitcoin, on Sunday known as Technique’s Bitcoin-only method a “fraud” and publicly challenged Michael Saylor in a reside debate at Binance Blockchain Week in Dubai in December.
Schiff stated the corporate’s current earnings have been primarily linked to Bitcoin’s market worth, and warned that the corporate’s monetary construction might collapse if investor sentiment adjustments.
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 complete enterprise method is a fraud. Irrespective of how Bitcoin performs, I count on MSTR to ultimately face chapter.”
MSTR’s complete 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 consider $mstrer Finally they are going to go bankrupt. Let’s go!
— Peter Schiff (@PeterSchiff) November 16, 2025
He cited the corporate’s third-quarter outcomes (internet earnings of $2.8 billion, diluted EPS of $8.42) for example of earnings, which he attributed to the rise out there worth of Bitcoin quite than secure enterprise operations.
Schiff stated most popular shares marketed as excessive yields might by no means produce the promised returns, which might result in heavy promoting by yield funds.
In response to Technique’s personal report, the corporate held roughly 640,808 BTC as of late October, representing a complete price of roughly $47.44 billion and an implied price of roughly $74,032 per coin.
MSTR’s enterprise mannequin depends on income-focused funds shopping for the corporate’s “high-yield” most popular inventory. Nonetheless, the revealed yield is rarely truly paid. When fund managers notice this, they are going to let go of their most popular 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 almost $13 billion in BTC earnings thus far in 2025.
These numbers assist clarify why the corporate posted robust accounting earnings despite the fact that 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 might have been a routine look right into a public showdown.
Market contributors say the dialogue can be intently watched by traders, regulators and different company issuers contemplating Bitcoin publicity.
Some analysts say the technique, whereas dangerous, gives a manner for traders to realize leveraged publicity to Bitcoin by publicly traded corporations.
Others agree with Schiff that accounting and financing selections expose shareholders to sudden adjustments.
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
