- Peter Schiff accused Michael Saylor’s firm, Strategy, of reporting “fraudulent” Q3 earnings inflated by unrealized Bitcoin gains.
- Strategy now holds 640,808 BTC worth $47.44 billion, earning a 26% year-to-date yield.
- Saylor dismissed merger rumors, reaffirming plans to strengthen Strategy’s balance sheet and keep buying Bitcoin.
Peter Schiff, the ever-outspoken gold advocate and longtime Bitcoin critic, is back on the offensive—this time targeting Michael Saylor’s company, Strategy. After the firm released its Q3 earnings, showing a 6.7% stock jump and $2.8 billion in net income, Schiff took to X to accuse Strategy of inflating its results. He called the report “fraud,” arguing that the company’s impressive numbers only reflect unrealized Bitcoin gains rather than genuine operational profits.
Bitcoin Dependency Under Fire
Strategy currently holds a staggering 640,808 BTC, valued at roughly $47.44 billion. Schiff insists this dependency on Bitcoin’s price movement makes the firm’s success dangerously unstable. The company’s average purchase price sits around $74,032 per BTC, and its chairman, Michael Saylor, reported a 26% year-to-date yield from these holdings. Still, Schiff argues that the results are more speculation than substance—suggesting that if Bitcoin’s price drops, so will Strategy’s entire financial image.
Saylor Dismisses Merger Rumors
In response to growing scrutiny, Saylor clarified that Strategy isn’t planning to merge with or acquire any other Bitcoin treasury firms. He emphasized that mergers bring unnecessary risks and delays, making them unattractive for the company’s long-term goals. Instead, Strategy remains laser-focused on strengthening its balance sheet, issuing digital credit, and—of course—buying more Bitcoin. For Saylor, Bitcoin remains the backbone of modern corporate finance.
Clash of Philosophies
The debate between Schiff and Saylor isn’t new—it’s a clash of ideologies. Schiff believes gold is the ultimate hedge against monetary instability, while Saylor views Bitcoin as digital property and the superior store of value. Schiff’s latest comments reflect a broader skepticism among traditional investors who see Strategy’s Bitcoin-centric model as speculative rather than strategic. But as Bitcoin continues to dominate headlines, Saylor seems unfazed—doubling down on his conviction that BTC is the future of corporate wealth.
