Peter Schiff Calls MicroStrategy MSTR and STRC Scams
On April 29, 2026, investor Peter Schiff called MicroStrategy’s MSTR stock and STRC preferred equity “scams,” labeled CEO Michael Saylor a fraud and compared them to NAKA’s 99% collapse.
On April 29, 2026, investor Peter Schiff posted on X that MicroStrategy’s MSTR stock and the STRC preferred equity scheme are “scams,” and he labeled CEO Michael Saylor a fraud. He compared both to the Nakamoto Games token NAKA, which fell more than 99% after heavy promotion at last year’s Las Vegas Bitcoin conference.
Schiff attended the Las Vegas event and referenced the token’s collapse in his post. He wrote: “The big hype last year at the Las Vegas Bitcoin conference I attended was $NAKA. Since then, the stock price has collapsed by more than 99%. Today the big hype is $STRC. By next year’s conference, attendees who buy STRC now may face similar losses to those who bought NAKA then!”
He described STRC as a preferred equity arrangement he expects to “implode” and argued that heavy promotion around conferences can lead to steep losses for late buyers. He also accused regulators, investment professionals and financial journalists who do not publicly call out MSTR and STRC and name Saylor a fraud of being untrustworthy.
Schiff questioned MicroStrategy’s claim that Bitcoin-denominated digital credit will deliver higher returns than assets such as gold or the S&P 500, writing “Expected by whom?” and calling Bitcoin’s expected return “more hope than forecast.” He advised caution for retail investors who rely on optimism over empirical analysis.
On economic policy, Schiff cited a comment he attributed to Federal Reserve Chair Jerome Powell about persistent inflation trends. He wrote, “Inflation is breaking out, bonds are breaking down, and stocks will follow bonds lower,” forecast stagflation evolving into recession, and recommended investors “Buy gold and silver.”
MicroStrategy and Michael Saylor have promoted using corporate Bitcoin holdings to support credit and securities structures. Supporters say those structures provide exposure to Bitcoin while enabling other financial uses; critics describe them as speculative and risky.
Schiff’s post contributes to the debate over corporate use of Bitcoin and the risks of new Bitcoin-backed financial products at industry conferences.
