Peter Schiff, a long-time gold advocate and Bitcoin critic, has escalated his attack on MicroStrategy. He publicly called on the U.S. Securities and Exchange Commission (SEC) to investigate the company's STRC product, claiming its promotion violates anti-fraud and marketing rules. MicroStrategy added 535 BTC via STRC in the past week, with 322 BTC purchased on Monday alone.
Schiff: STRC Structure Looks Like a Ponzi Scheme, Retirees Misled
Schiff specifically targeted MicroStrategy chairman Michael Saylor, alleging that his remarks about retirees being primary STRC buyers crossed regulatory boundaries. Schiff argues that STRC carries a high-risk profile and structurally resembles a centralized Ponzi scheme, while retirees typically seek to safeguard their savings.
Saylor Responds: Not a Financial Pyramid, Like a Software Developer
Saylor contends that STRC operations do not constitute a "financial pyramid" but rather mimic those of a software developer. He emphasized that Bitcoin could be sold if needed to meet STRC obligations, but the firm's main goal is to increase total holdings by year-end. Saylor explained that even if one BTC is sold, proceeds are typically reinvested to acquire 10 to 20 BTC, leveraging high market liquidity.
Strong Liquidity, Macro Factors Could Drive Capital Inflows
Saylor highlighted that transaction volumes of $100 million to $200 million per hour can be executed without affecting Bitcoin prices. He also suggested that global macroeconomic factors—including the Federal Reserve's tighter monetary policy and geopolitical developments in the Middle East—are likely to drive long-term capital inflows into digital assets.
Price Rebounds After Volatility, Investor Interest Persists
According to company data, STRC consistently rebounded to the $100 level after brief volatility, followed by a surge in trading volume. Despite ongoing regulatory and conceptual debates, the market continues to absorb STRC's supply, and investor interest remains. The company's latest moves demonstrate real momentum for the model, but the divide between leadership and critics is far from resolved. Both retail investors and institutions are closely watching STRC's risk profile and strategic management, as the model championed by Michael Saylor continues to present a complex landscape.