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Peter Schiff, a longtime Bitcoin critic and gold advocate, has once again taken his regular jab at the Bitcoin ecosystem, specifically targeting the largest Bitcoin treasury firm, Strategy (formerly MicroStrategy).
On Friday, October 31st, Schiff issued a post discredits the Saylor’s Strategy earnings report, claiming it is not as authentic as it is presented. In your post bitcoin a critic argued that Strategy’s so-called “earnings” are just paper gains associated with the recent rise in Bitcoin, not real positive trading performance.
Peter Schiff emphasized that the firm’s outlook for 2025 is built entirely on the assumption that bitcoin will continue to grow, meaning that its earnings report is a significant fraud.
An anti-Bitcoin spokesperson voiced his criticism shortly after MicroStrategy shares jumped nearly 7% on what it sees as stronger-than-expected quarterly results and a bullish outlook for the year.
While the crypto community and mainstream financial community applauded Strategy for its impressive growth and quarterly performance, Schiff isn’t convinced the profit numbers are well deserved. As always, Schiff accused the company of disguising speculation as profitability, reigniting his long-running war of words with the Bitcoin community.
The crypto community is frowning on Schiff’s new MSTR
Schiff’s criticism of MSTR’s quarterly performance was not welcomed by the crypto community, and commentators fired back and condemned Schiff’s previous trading activities.
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Many have argued that Strategy no longer pretends to be a software company; they pointed out that it is essentially a publicly traded Bitcoin ETF with a Nasdaq ticker. In their view, the market values MicroStrategy exactly as it should. They see the strategy as a high-risk, high-reward bet on Bitcoin.
Additionally, others have pointed out that while Schiff sees bitcoin’s appreciation as “fraudulent,” he celebrates gold’s value when it rises, calling it a contradiction that cannot be overlooked.
They argued that Schiff’s traditional approach lacked how modern societies are evolving, with bitcoins now being treated more like a cash reserve than just a speculative asset.
