Schiff Warns Strategy's Common Stock Will Be Worthless Amid Growing Institutional Adoption of STRC

Peter Schiff has continued his attack on Strategy and Michael Saylor, claiming that the company's Bitcoin-driven capital structure promotes 'excessive speculation'.

Schiff believes this could ultimately leave Strategy's common shareholders with nothing, predicting that 'eventually the common stock equity will be worthless for Strategy.'

Meanwhile, Saylor pointed to growing institutional adoption of Strategy's preferred stock STRC, which has become a top holding in several major US preferred stock exchange-traded funds (ETFs).

The STRC is held by BlackRock's iShares Preferred and Income Securities ETF (PFF), Virtus InfraCap's US Preferred Stock ETF (PFFA) and VanEck's Preferred Securities ex Financials ETF (PFXF), with a combined value of $756 million across the three ETFs.

Schiff also reiterated his bearish Bitcoin outlook, warning that a break below $50,000 could trigger a deeper decline toward the $20,000-$30,000 range.