Is Saylor’s Bitcoin Strategy A ‘Fraud’? Schiff Wants A Live Debate To Prove It
Peter Schiff, a long-time gold investor and vocal critic of Bitcoin, on Sunday referred to as Strategy Inc.’s Bitcoin-only strategy “a fraud” and publicly challenged Michael Saylor to a stay debate at Binance Blockchain Week in Dubai this December.
Schiff stated the agency’s current income are largely tied to the market worth of Bitcoin and warned that the corporate’s monetary construction might fail if investor sentiment turns.
Schiff’s Core Charge
According to Schiff, Strategy’s reported beneficial properties are largely unrealized and the corporate’s financing plan is dangerous.
He overtly slammed the corporate, saying, “MSTR’s entire enterprise strategy is a fraud. No matter how Bitcoin performs, I count on MSTR to finally face chapter.”
MSTR’s complete enterprise mannequin is a fraud. Saylor and I’ll each be talking at Binance Blockchain Week in Dubai in early December. I problem @saylor to debate this proposition with me. Regardless of what occurs to Bitcoin, I consider $MSTR will finally go bankrupt. Let’s go!
— Peter Schiff (@PeterSchiff) November 16, 2025
He pointed to the corporate’s third-quarter outcomes — internet revenue of $2.8 billion and diluted EPS of $8.42 — as examples of earnings that, he says, come from mark-to-market will increase in Bitcoin relatively than regular enterprise operations.
Schiff stated that most well-liked shares marketed as high-yield could by no means produce the promised returns and that this might set off heavy promoting by yield funds.
Strategy’s personal report reveals it held about 640,808 BTC as of late October, at a complete value round $47.44 billion and an implied value per coin close to $74,032.
MSTR’s enterprise mannequin depends on income-oriented funds shopping for its “high-yield” most well-liked shares. But these printed yields won’t ever really be paid. Once fund managers understand this they’ll dump the preferreds & $MSTR gained’t have the ability to subject any extra, setting off a dying spiral.
— Peter Schiff (@PeterSchiff) November 16, 2025
The firm reported a 26% BTC Yield for the year-to-date and stated it had realized near $13 billion in BTC beneficial properties in 2025 to date.
Those figures assist clarify why the agency posted robust accounting income even whereas its core software program enterprise generates modest income.
Debate Call Draws Attention
The problem from Schiff is timed to overlap with Saylor’s talking schedule on the Dubai convention, turning what may need been routine appearances into a possible public showdown.
Market watchers say a debate can be watched carefully by buyers, regulators and different company issuers who’ve been weighing Bitcoin publicity.
Some analysts say the technique, whereas dangerous, provides buyers a strategy to achieve leveraged publicity to Bitcoin via a public firm.
Others agree with Schiff that the accounting remedy and financing selections expose shareholders to sudden shifts.
Saylor and Strategy didn’t instantly settle for or decline the talk invitation in public feedback.
Featured picture from Unsplash, chart from TradingView
