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Longtime Bitcoin critic and gold advocate Peter Schiff has once again launched his regular jab at the Bitcoin ecosystem, specifically targeting Bitcoin’s largest treasury firm, Strategy (formerly MicroStrategy).
On Friday, October 31st, Schiff published a place discrediting the earnings report of Saylor’s Strategy, claiming that it is not as genuine as it appears. In his place, the Bitcoin The critic argued that the so-called “gains” of the Strategy are only paper gains related to the recent rally of Bitcoin, not a real positive trading performance.
Peter Schiff emphasized that the company’s outlook for 2025 is built entirely on the assumption that Bitcoin will continue to grow, which makes its earnings report a considerable fraud.
The anti-Bitcoin speaker voiced his criticism soon after MicroStrategy The stock jumped nearly 7%, which he sees as stronger-than-expected quarterly results and bullish guidance for the year.
While the crypto community and the traditional financial landscape had applauded Strategy for its impressive growth and quarterly performance, Schiff is not convinced that the profit numbers are duly deserved. As always, Schiff accused the company of masquerading speculation as profit, reigniting his long war of words with the Bitcoin community.
Crypto community frowns at Schiff’s new MSTR take
Schiff’s criticism of MSTR’s quarterly performance was not well received by the crypto community, and commentators fired back, condemning Schiff’s previous ventures.
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Many argue that Strategy is no longer pretending to be a software company; they stressed that it is essentially a publicly traded Bitcoin ETF with a Nasdaq ticker. In his view, the market values MicroStrategy exactly as it should. They consider the Strategy a high risk and reward bet for Bitcoin.
Additionally, others have pointed out that while Schiff sees Bitcoin’s appreciation as “fraudulent,” he celebrates the value of gold when it rises, calling it a contradiction that cannot be overlooked.
They argued that Schiff’s traditional approach misses how modern businesses are evolving, with Bitcoin now treated as a treasure trove rather than just a speculative asset.
