- Peter Schiff mocked Bitcoin as gold, silver, and major stock indexes posted gains in 2026.
- Schiff renewed attacks on Michael Saylor’s STRC model, calling it unsustainable.
- Strategy posted a $12.5B Q1 2026 loss as Saylor admitted the company could sell Bitcoin.
Bitcoin critic Peter Schiff took aim at BTC holders after the asset posted an 11% decline so far in 2026, even as traditional markets and metals moved higher.
In a post on X, Schiff compared Bitcoin’s performance against several major assets. Gold gained 9% this year, silver climbed 11%, the NASDAQ rose 13%, and the Russell 2000 advanced 14%. Bitcoin, meanwhile, moved in the opposite direction.
Schiff mocked the idea that Bitcoin had become an “uncorrelated asset,” arguing that BTC continued falling even while both risk-on and defensive assets rallied.
The comments came as Bitcoin continues to face resistance beyond the $80K price level.
Schiff Targets Michael Saylor Again
Schiff also renewed his criticism of Michael Saylor and Strategy’s Bitcoin accumulation model after the company resumed buying BTC through its STRC preferred stock structure.
After a 23-day pause, STRC returned to parity at $100, allowing Strategy to restart purchases. The latest buy totaled just 1.17 BTC through the instrument, the first acquisition since mid-April.
Saylor recently compared his corporate structure to aviation on social media, describing STRC as an airliner, Bitcoin as a fighter jet, and MSTR as a rocket. Schiff responded by predicting all three would eventually “crash and burn.”
The economist has repeatedly labeled STRC a Ponzi scheme. His main argument centers on the company’s 11.5% dividend obligation tied to the preferred stock offering.
Schiff argued that if Bitcoin’s yearly gains fail to exceed that yield, Strategy could eventually face pressure to sell or collateralize its BTC holdings to keep dividend payments flowing.
Strategy Faces Pressure From Yield Costs
The debate intensified after Strategy’s first-quarter 2026 earnings report showed a $12.5 billion net loss tied to Bitcoin revaluation losses.
During the earnings call, Saylor admitted the company could sell Bitcoin if necessary to fund STRC dividends. The statement marked a sharp transition from his earlier public stance encouraging investors to hold BTC at all costs.
Strategy currently pays around $85 million per month in cash dividends to STRC holders. The company largely funds those payments by issuing common stock.
Schiff argues that the model becomes difficult to sustain if Bitcoin remains weak for an extended period. Strategy also reported a loss of $38.25 per share in Q1, although revenue reached $124.3 million and beat analyst expectations.
Schiff said he believes Saylor would eventually suspend STRC dividends instead of aggressively selling Bitcoin, arguing that protecting BTC’s image remains central to the company’s strategy.
Related: Bitcoin Critic Peter Schiff Calls Strategy an “Obvious Ponzi,” Targets SEC Oversight
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