Peter Schiff was already attacking Strategy when STRC was near $97 and didn't miss the opportunity to bring it up again after the stock fell below $83.
STRC, Strategy's preferred stock, was trading below $83 on Thursday (18), reaching its lowest historical level. On social media, critic Peter Schiff attacked Michael Saylor again.
Last month, the economist had already called STRC a Ponzi scheme , among other statements against Strategy, after the stock moved away from US$100.
Saylor, both on this occasion and on other occasions when provoked by Schiff, remained silent.
STRC, Strategy's preferred stock, hits its lowest level in history.
In addition to selling common stock (MSTR) to raise money to finance its Bitcoin purchases, Strategy also launched four shares on the market, STRC, STRD, STRK, and STRF, to accelerate this expansion.
STRC was the company that attracted the most investors by promising returns in the range of 11.5% per year in dollars. However, the stock has been experiencing a sharp decline in the last 30 days.
On Thursday (18), STRC was traded at US$ 82.53, reflecting investor fear.
STRC, Strategy's preferred stock, hit a low of US$82.53 on Thursday (18). Source: TradingView.
Because of this, the effective yield rate has increased. With the shares trading at $87.39 at the time of writing, yields are in the range of 13.16% per year, generating more expenses for the company.
With a lower share price for STRC, Strategy needs to pay higher yields to shareholders. Image: Strategy/Reproduction.
Peter Schiff attacks Strategy and Michael Saylor again
If Peter Schiff was already attacking Strategy when STRC was close to $97 , the economist did not miss the opportunity to speak about the subject again after the stock fell below $83 on Thursday (18).
“The financial house of cards that @Saylor built is crumbling. The discount per share of $MSTR relative to its Bitcoin holdings is skyrocketing, $STRC is plummeting, and Bitcoin itself is falling, dragging the rest of the cryptocurrencies down with it. Soon, Saylor will be trading his orange tie for an orange prison jumpsuit.”
Peter Schiff attacks Strategy as STRC falls below $83. Source: X.
In other tweets, Schiff states that investors who are being harmed by the drop "probably have a lawsuit practically guaranteed against $MSTR, since they bought based on @Saylor's promotion that highlighted the yield without adequately disclosing the high risk . "
Responding to a follower who questioned the reason for so much hatred towards Saylor, who never attacked him, Schiff states that he "doesn't hate him ," but that "he has a great potential responsibility towards investors who are going to lose a lot of money . "
The economist also discussed the topic in a video, which can be watched below.
At the time of writing, Bitcoin is trading in the range of US$82,850, down 4% in the last 24 hours, reflecting expectations of a tighter monetary policy from the Fed in the coming months . Companies in the sector, including Strategy, are also under pressure.
