US economist and “Gold Bug” Peter Schiff Michael Saylor has warned of lawsuits as the strategy uses funds raised from STRC’s perpetual preferred stock to buy Bitcoin. He called STRC “misleading to constitute fraud.”
Peter Schiff targets Michael Saylor and Strategy’s STRC shares
Following significant dilutions of MSTR common stock, Michael Saylor’s Stategy Inc (NASDAQ: MSTR) is relying mostly on STRC perpetual preferred stock to raise funds to purchase Bitcoin. It is designed to trade near the $100 face value with low volatility. It pays monthly cash dividends, and the annual yield is currently 11.5%.
Bitcoin critic Peter Schiff responded to A Share X by Michael Saylor, escalating their long-standing feud. Schiff said the STRC is “so misleading as to constitute fraud.” This isn’t the first time Schiff has contacted him Preferred stock stretch scamHe urged investors to sell stocks and switch to gold and silver.
Peter Schiff warned Michael Saylor of potential lawsuits when the dividend is canceled and the stock declines. “Get ready for lawsuits when dividends are canceled and stocks dig,” he said.
$MSTR Bitcoin is inflated pic.twitter.com/GeZdNbKdfT
-Michael Saylor (@saylor) April 16, 2026
STRC stock falls below par value again
As Strategy (formerly MicroStrategy) resumes aggressive Bitcoin accumulation, STRC stock has fallen below $100 face value once again. but, STRC has raised sufficient capital To buy another 23,934 bitcoins worth $1.76 billion. Saylor dismissed the critics by saying:If it makes you uncomfortable, it works.”
STRC stock fell 0.94% to $99.06 on Thursday. Trading volume exceeded 3 million, above the average of 2 million. In premarket on Friday, the stock was trading 0.030% higher at $99.09.
As CoinGape previously reported, Michael Saylor strategy Acquired 13,927 Bitcoins for $1 billion. Michael Saylor’s Bitcoin treasury company now owns 780,897 Bitcoin worth approximately $59 billion.
Meanwhile, MSTR stock The price closed 3.76% higher at $148.94 on Thursday as Bitcoin rose amid a ceasefire between Israel and Lebanon. The lowest and highest price of the day were $139.33 and $149.16, respectively.
Bitcoin price is currently trading at $75,320 at press time. The 24-hour low and high are $73,346 and $76,347 respectively. Trading volume surged ahead of cryptocurrency options expiration.
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