Peter Schiff, a longtime Bitcoin critic and gold advocate, has warned that Michael Saylor may be forced to sell significantly more Bitcoin and MSTR shares. Strategy is attempting to push its STRC preferred stock back toward its $100 target, but it is currently trading below $95. Last week, the company sold 1,690 BTC for approximately $108.6 million and used the proceeds to repurchase about 1.15 million STRC shares. Strategy also sold roughly $653 million worth of MSTR common stock to strengthen its dollar reserves. Schiff calls STRC an albatross around MSTR’s neck and argues that Strategy’s digital credit model is coming under pressure.
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