{"id":32083,"date":"2026-06-16T12:31:24","date_gmt":"2026-06-16T12:31:24","guid":{"rendered":"https:\/\/bitunikey.com\/news\/peter-schiff-says-strategys-bitcoin-math-no-longer-adds-up\/"},"modified":"2026-06-16T12:31:33","modified_gmt":"2026-06-16T12:31:33","slug":"peter-schiff-says-strategys-bitcoin-math-no-longer-adds-up","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/peter-schiff-says-strategys-bitcoin-math-no-longer-adds-up\/","title":{"rendered":"Peter Schiff Says Strategy\u2019s Bitcoin Math No Longer Adds Up"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Peter Schiff has renewed his attack on Strategy\u2019s Bitcoin buying plan, saying the company\u2019s model no longer works the way it did when MSTR traded at a large premium to its Bitcoin holdings.\u00a0<\/p>\n<div id=\"cn-block-summary-block_cd1403f87ee1dbc6e52da7c22edc6277\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Schiff says discounted MSTR share sales could weaken Bitcoin-per-share gains for existing Strategy investors.<\/li>\n<li>Strategy kept buying Bitcoin, adding 1,587 BTC after the earlier 1,550 BTC purchase.<\/li>\n<li>A dormant whale moved 2,373 BTC, but on-chain data does not confirm a sale.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>The Euro Pacific Capital chief argued that earlier stock sales helped raise Bitcoin per share because investors paid above net asset value.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cPast sales were done at a premium. Current sales are done at a discount,\u201d Schiff wrote.\u00a0<\/p>\n<\/blockquote>\n<p>He claimed that selling discounted MSTR stock to fund new Bitcoin purchases can dilute holders and lower Bitcoin per share, even when the company adds more BTC.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-x wp-block-embed-x\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Almost all articles regarding criticism of <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/x.com\/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$MSTR<\/a> selling stock to buy Bitcoin point to the fact that MSTR has always sold stock to buy Bitcoin. But that rationalization misses the point of the criticism. Past sales were done at a premium. Current sales are done at a discount.<\/p>\n<p>\u2014 Peter Schiff (@PeterSchiff) <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/x.com\/PeterSchiff\/status\/2066677191501369545?ref_src=twsrc%5Etfw\">June 16, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\"><strong>Strategy adds more Bitcoin after disputed sale<\/strong><\/h2>\n<p>The criticism followed Strategy\u2019s purchase of 1,550 BTC for about $101 million in early June. Schiff claimed that the buy left shareholders worse off because the company issued more equity than the new Bitcoin added to its per-share exposure. He also called the result a \u201cnegative Bitcoin yield.\u201d<\/p>\n<p>Strategy has continued to buy Bitcoin since then. On June 15, Michael Saylor said the company bought another 1,587 BTC for about $100 million, lifting its Bitcoin reserve to 846,842 BTC. The company also raised its dollar reserve to $1.1 billion, adding more cash while keeping its Bitcoin accumulation plan active.<\/p>\n<h2 class=\"wp-block-heading\"><strong>STRC dividend pressure stays in focus<\/strong><\/h2>\n<p>The debate also centers on STRC, Strategy\u2019s preferred stock. Schiff has argued that the dividend burden could become harder to manage if preferred shares trade below their intended level. In that case, the company may need to offer higher payments, sell more shares, or use cash reserves to support payouts.<\/p>\n<p>As crypto.news previously reported, Strategy sold 32 BTC between May 26 and May 31, raising about $2.5 million at an average price of $77,135. Company CEO Phong Le later said the sale was a test of internal systems, not a move to fund dividends. The small sale still drew attention because Strategy built its public image around holding and adding Bitcoin.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Dormant whale transfer adds market context<\/strong><\/h2>\n<p>The market backdrop also changed after a long-dormant Bitcoin holder moved 2,373 BTC. CryptoQuant analyst Maartun said the coins had remained inactive for roughly five to seven years. At Bitcoin\u2019s recent price near $66,000, the transfer was worth about $156 million.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-x wp-block-embed-x\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Dormant Bitcoin is waking up.<\/p>\n<p>More than 2,373 BTC aged 5-7 years just moved on-chain <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/t.co\/UsxhL3JxLL\">pic.twitter.com\/UsxhL3JxLL<\/a><\/p>\n<p>\u2014 Maartunn (@JA_Maartun) <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/x.com\/JA_Maartun\/status\/2066773783034171602?ref_src=twsrc%5Etfw\">June 16, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>A whale transfer does not prove a sale. Long-term holders may move coins for custody changes, wallet upgrades, estate planning, or profit-taking. Analysts usually watch whether such coins flow to exchanges before treating the movement as possible sell pressure.<\/p>\n<p>Bitcoin has rebounded above the mid-$60,000 area after a sharp pullback earlier in June. The price move has kept Strategy, miners, ETFs, and older whale wallets in focus as traders look for signs of renewed demand or fresh selling.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Peter Schiff has renewed his attack on Strategy\u2019s Bitcoin buying plan, saying the company\u2019s model no longer works the way it did when MSTR traded at a large premium to&hellip;<\/p>\n","protected":false},"author":1,"featured_media":32084,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-32083","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/32083","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=32083"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/32083\/revisions"}],"predecessor-version":[{"id":32085,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/32083\/revisions\/32085"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/32084"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=32083"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=32083"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=32083"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}