Economist Peter Schiff questioned on Tuesday Bitcoin’s (CRYPTO: BTC) decline over the past year, despite Strategy Inc. (NASDAQ:MSTR) substantially boosting its BTC reserves during the same time.
Schiff Targets Saylor’s Strategy Again
In an X post, Schiff chose the 2025 Bitcoin Conference as the reference point. He noted that Michael Saylor’s firm increased its Bitcoin holdings from 2.76% of the total supply at that time to 3.9%—right as the key 2026 conference kicks off.
The 2025 Conference was held in Las Vegas from May 27 to May 29. At the time, Strategy held 580,250 BTC. Earlier this week, it reported its latest purchase, boosting the reserves to 818,334 BTC, suggesting a nearly 40% increase.
Moreover, BTC traded around $109,000 during the 2025 event. It has since declined by about 30%.
“A 40% increase in market share didn't stop Bitcoin from falling by 30%. If MSTR gets to 5% of supply by next year's conference, why should Bitcoin stop falling?” Schiff said
Bitcoiners Push Back
Bitcoin advocates, unsurprisingly, were not impressed. Influencer and podcaster Natalie Brunell, who interviewed Schiff during the 2025 conference, quipped, “A year ago, you didn't understand Bitcoin. A year later, you still don't.”
Another widely followed Bitcoin trader, operating under the pseudonym Castillo Trading, drew parallels to traditional markets where CEOs and firms hold stakes in some of the largest stocks. They argued that 4-5% Bitcoin ownership isn’t uniquely problematic.
A Look At Strategy’s Financials
Strategy has bought Bitcoin every week in April, totalling over $6.4 billion in purchases this month alone. With Bitcoin hovering near $77,000, Strategy’s position remains profitable—for now—but risks turning red if BTC dips below $75,000.
Moreover, Strategy's market cap sits at $58 billion, compared to $63 billion in BTC holdings. This means that the stock is trading at a discount to its net asset value.
Saylor has consistently defended Strategy's business model, asserting that as long as Bitcoin increases by 1.25% annually, Strategy can maintain its dividend payments indefinitely and boost shareholder value.
Price Action: At the time of writing, BTC was exchanging hands at $77,028.84, up 0.35% in the last 24 hours, according to data from Benzinga Pro.
Strategy shares were down 1.67% in pre-market trading after closing 2.06% lower at $165.71 during Tuesday’s regular trading session.
Benzinga's Edge Stock Rankings show the stock weakening over the long term, yet holding a positive trajectory in the short and medium terms.
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