Schiff Blasts Saylor and Strategy Over Alleged Misleading of Investors

Peter Schiff has accused Michael Saylor and Strategy of misleading investors after STRC's decline.

The price of STRC's floating-rate preferred shares fell to $82.5 from a par value of $100, with the company using proceeds to buy Bitcoin.

Schiff believes that Saylor and Strategy failed to disclose risks to investors, instead focusing on promoting the securities' returns.

In a tweet, Schiff stated that 'The financial house of cards @Saylor built is collapsing. $MSTR's per-share discount to its Bitcoin holdings is soaring, $STRC is tanking, and Bitcoin itself is breaking down, taking the rest of crypto down with it.'