Peter Schiff, a long-time gold investor and vocal critic of Bitcoin, on Sunday known as Technique Inc.’s Bitcoin-only strategy “a fraud” and publicly challenged Michael Saylor to a dwell debate at Binance Blockchain Week in Dubai this December.
Schiff mentioned the agency’s latest earnings are largely tied to the market worth of Bitcoin and warned that the corporate’s monetary construction may fail if investor sentiment turns.
Schiff’s Core Cost
In accordance with Schiff, Technique’s reported positive aspects 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. Irrespective of how Bitcoin performs, I anticipate MSTR to ultimately face chapter.”
MSTR’s total 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 consider $MSTR will ultimately go bankrupt. Let’s go!
— Peter Schiff (@PeterSchiff) November 16, 2025
He pointed to the corporate’s third-quarter outcomes — internet earnings 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 quite than regular enterprise operations.
Schiff mentioned that most popular shares marketed as high-yield could by no means produce the promised returns and that this might set off heavy promoting by yield funds.
Technique’s personal report exhibits it held about 640,808 BTC as of late October, at a complete price round $47.44 billion and an implied price per coin close to $74,032.
MSTR’s enterprise mannequin depends on income-oriented funds shopping for its “high-yield” most popular shares. However these printed yields won’t ever truly be paid. As soon as fund managers understand this they’ll dump the preferreds & $MSTR gained’t be capable to situation any extra, setting off a loss of life spiral.
— Peter Schiff (@PeterSchiff) November 16, 2025
The corporate reported a 26% BTC Yield for the year-to-date and mentioned it had realized near $13 billion in BTC positive aspects in 2025 to this point.
These figures assist clarify why the agency posted sturdy accounting earnings even whereas its core software program enterprise generates modest income.
Debate Name Attracts Consideration
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 could be watched intently by traders, regulators and different company issuers who’ve been weighing Bitcoin publicity.
Some analysts say the technique, whereas dangerous, provides traders a technique to achieve leveraged publicity to Bitcoin via a public firm.
Others agree with Schiff that the accounting remedy and financing decisions expose shareholders to sudden shifts.
Saylor and Technique didn’t instantly settle for or decline the talk invitation in public feedback.
Featured picture from Unsplash, chart from TradingView
Editorial Course of for bitcoinist is centered on delivering completely researched, correct, and unbiased content material. We uphold strict sourcing requirements, and every web page undergoes diligent assessment by our crew of prime know-how consultants and seasoned editors. This course of ensures the integrity, relevance, and worth of our content material for our readers.