Michael Saylor Destroyed Shareholder Value Instead Of Creating It, Says Peter Schiff: ‘Bitcoin Is Overvalued’

Noted economist Peter Schiff stated on Sunday that Michael Saylor destroyed shareholder value at his firm, Strategy Inc. (NASDAQ:MSTR), allegedly by pursuing a flawed Bitcoin (CRYPTO: BTC) accumulation strategy.

Strategy’s Woes Deepen

Schiff highlighted Strategy’s ongoing financial struggles on X, noting nearly $14 billion in paper losses on the Bitcoin the company holds.

He added that the market value of the company’s stock, currently worth $29.54 billion, is worth less than half of the money Saylor spent to buy the BTC, i.e, $64.10 billion.

Strategy is the world’s largest corporate owner of Bitcoin, holding over 847,363 BTC with an average acquisition cost of $75,651 per coin.

Schiff argued that liquidating MSTR’s position would crash BTC prices, adding that Saylor “destroyed” shareholder value rather than creating it.

Strategy didn’t immediately return Benzinga’s request for comment.

Not really, as if MSTR tried to sell its Bitcoin, the price of Bitcoin would crash. Bitcoin is over-valued. But my point is that Saylor as destroyed a lot of shareholder value by buying Bitcoin. He has not created it.

— Peter Schiff (@PeterSchiff) June 28, 2026

Schiff Scales Up Attack As MSTR Wipes Out Shareholders’ Wealth

Schiff remains one of the most persistent critics of Strategy’s business model.

Last week, Schiff predicted that Saylor’s Bitcoin bet could become the largest losing trade in history. He previously claimed that owning MSTR stock is the “worst way” to get Bitcoin exposure.

Concerns about the Strategy’s financial strength rose dramatically after it disclosed Bitcoin sales earlier in the month, undermining the “never sell” thesis that bullish investors had counted on. Since the disclosure, the MSTR stock has plunged 45%.

Saylor has defended Strategy, arguing that the company has acted as a major source of liquidity and support for Bitcoin during the current bear market, far from being a “systemic risk” as some have alleged.

Price Action: At the time of writing, BTC was exchanging hands at $60,041.09, up 0.28% over the last 24 hours, according to data from Benzinga Pro.

Strategy shares closed 3.54% at $82.31 during Friday’s regular trading session. Benzinga’s Edge Stock Rankings indicate that MSTR has underperformed with a weaker price trend across short-, medium-, and long-term timeframes.

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