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Michael Saylor’s Bitcoin treasury technique is a “fraud” that can finish in chapter, Peter Schiff mentioned.
The gold advocate and long-time Bitcoin critic slammed Saylor’s firm, Technique (previously MicroStrategy), in a collection of posts on X, intensifying his years-long feud with the crypto business’s most outstanding company investor.
“MSTR’s whole enterprise mannequin is a fraud,” he mentioned. “No matter what occurs to Bitcoin, I imagine $MSTR will ultimately go bankrupt.”
MSTR’s whole 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. No matter what occurs to Bitcoin, I imagine $MSTR will ultimately go bankrupt. Let’s go!
— Peter Schiff (@PeterSchiff) November 16, 2025
Schiff challenged Saylor to a debate in the course of the Binance blockchain week in December, which each of them are set to attend.
MSTR ‘Demise Spiral’ Incoming
Schiff argued in one other X put up that Technique’s enterprise mannequin depends on “income-oriented funds shopping for its ‘high-yield’ most well-liked shares,” warning that these yields ”won’t ever truly be paid.”
As soon as fund managers understand this, Schiff mentioned they may dump Technique’s most well-liked shares and the corporate received’t be capable to challenge any extra. This, the Bitcoin critic concluded, will set off an MSTR “demise spiral.”
Schiff’s feedback come after Technique shares plunged 30% previously month amid a steep crypto market correction. It’s additionally down greater than 51% previously six months, in response to Google Finance.
The plunging share worth prompted Technique’s mNAV, which is the financial premium mirrored within the firm’s inventory worth over its BTC holdings, to fall beneath 1 earlier this month. It has since rebounded to face at 1.20, however continues to be beneath 2, the bottom stage that buyers see as wholesome for a crypto treasury agency.
Some analysts says Technique’s Bitcoin-accumulation mannequin makes the corporate behave like a leveraged Bitcoin car, and that the corporate’s inventory (MSTR) acts nearly like a name choice on BTC.
That leverage can multiply positive factors for buyers, however may also result in amplified losses in a market downturn. This has been seen within the broader crypto market’s newest retracement, which has put strain on MSTR’s worth.
Up to now month, Bitcoin’s worth has sunk greater than 10% to commerce beneath the psychological $100K mark. In the meantime, MSTR has plummeted over 31% throughout the identical interval,
Saylor Hints At One other Bitcoin Purchase
Technique has remodeled itself from a business-intelligence agency into the world’s largest company holder of Bitcoin, with greater than 641,000 BTC on its steadiness sheet, in response to Bitcoin Treasuries.
High 20 largest company BTC holders (Supply: Bitcoin Treasuries)
Saylor hinted yesterday that Technique is about to purchase extra Bitcoin, posting a snapshot of the SaylorTracker chart, including the caption, “₿ig Week.”
Comparable posts have been adopted by bulletins that Technique has purchased extra Bitcoin. The most recent tweet comes after Technique final week refuted rumors that it was promoting BTC.
₿ig Week pic.twitter.com/a27eg6Kw4v
— Michael Saylor (@saylor) November 16, 2025
“Sure, massive losses for Bitcoin and MSTR possible this week,” Schiff replied to the put up.
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