Schiff Tells Bulls to Buy BTC Over MSTR Amid Yield Drop

Bitcoin critic Peter Schiff questioned Strategy's recent stock sale and subsequent Bitcoin yield drop. In an X post on July 27, he argued that investors who are bullish about Bitcoin would be better off owning it directly.

Strategy sold another 5.4 million common shares without buying any Bitcoin, which reduced its year-to-date BTC yield to 4.5%, down from 13.3% on May 25. Schiff pointed out the sharp decline of around 66%. He said: 'If you're bullish, you're better off just owning Bitcoin.'

However, Strategy's Bitcoin yield isn't an investment return but a measure that tracks how much the amount of BTC backing each diluted common share has increased. The company itself warns that this figure isn't equivalent to yield in the traditional financial sense.