Peter Schiff thinks Strategy executive chairman and co-founder Michael Saylor is misleading retirees. The outspoken economist fired off a warning on X, asking how the SEC could allow Saylor to publicly describe STRC as suitable for retired investors whose main goals are low-risk wealth preservation and steady income.
Schiff called it a violation of SEC antifraud and marketing rules. Strategy has not publicly responded to the criticism.
A Preferred Stock Built Around Bitcoin
The debate comes as Strategy pulled in over $206 million through its STRC perpetual preferred stock program. According to data from Bitcoin Treasuries’ ATM tracker on May 11, the company issued 2.12 million shares to generate those proceeds. At an average Bitcoin price of $81,471, that haul could buy roughly 2,536 BTC.
The capital raise happened the same day Strategy announced it bought $43 million worth of Bitcoin — its first purchase after a one-week pause.
The timing was no coincidence. STRC’s
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