‘Most obvious Ponzi that has ever existed’ – Peter Schiff slams Strategy’s STRC
All about Schiff's criticism of Bitcoin, Saylor's Strategy, and its preferred stock.
All-time Bitcoin [BTC] critic Peter Schiff never misses a chance to criticize the world’s leading cryptocurrency. In fact, at times, he has also taken a jab at Strategy’s Michael Saylor.
This time is no different, with Schiff now slamming Strategy’s preferred stock – STRC. According to the exec, it is”‘the most obvious Ponzi that has ever existed.”
Schiff criticizes Strategy’s STRC
Schiff also went a step ahead and attacked the U.S Securities and Exchange Commission for allowing Saylor to promote his preferred stock. He added,
We don’t need an SEC.
That’s not all though. Schiff also announced an X space where he has invited the wider audience to share their views and prove him wrong.
Saylor, this includes you. Also, I’d like @coffeebreak_YT [Coffeezilla – Internet Detective Exposing Scam] to join. He did a great job exposing this, but then backed away from calling it a Ponzi.
STRC steals the spotlight in just weeks!
Schiff’s latest comments follow Strategy’s recent post wherein the firm declared Bitcoin-backed STRC stock as “the world’s largest preferred stock.”
For those unaware, Strategy uses Stretch perpetual preferred shares (STRC) with an 11.5% yield to purchase more Bitcoin.
However, to further accelerate the Bitcoin buying spree, Strategy’s Saylor recently announced that it would change the 11.5% monthly yield to a semi-monthly payout plan. The STRC itself has, to date, accumulated 17,204.73 BTC.
At the same time, the stock price of STRC was at $99.60, up by 0.16% at press time.
What about Strategy’s holdings?
For its part, Strategy still continues to rank as the top public Bitcoin treasury company, holding 815,061 BTC worth $63.21 billion.
Its latest acquisition happened on 20th April, when the firm added 34,164 new BTC to its stash. Meanwhile, the stock price of MSTR was at $175.63, down by 2.03% at the time of writing.
Final Summary
- Peter Schiff slammed Michael Saylor’s preferred stock once again.
- Both STRC and MSTR have been sending opposite signals to investors.
