Saylor Faces Pressure to Sell More BTC Amid Struggling STRC Preferred Stock

Peter Schiff has warned that Michael Saylor may have to sell significantly more Bitcoin (BTC) and MSTR shares as Strategy attempts to push its STRC preferred stock back toward its $100 target.

Despite selling BTC and MSTR to raise cash and buy back STRC, STRC is still trading below $95, Schiff noted on X. He claimed that Saylor will have to sell a lot more BTC and discounted common stock to raise the price of STRC to $100.

This news is bad for BTC and MSTR, Schiff added. He has repeatedly argued that Strategy's attempts to support STRC are coming at the expense of MSTR common shareholders and BTC exposure.