Peter Schiff Slams MSTR: ‘Business Model Is a Complete Fraud,’ Says Bankruptcy Is Inevitable

Economist Peter Schiff didn’t hold back when criticizing the Bitcoin Treasury company Strategy Inc. (NASDAQ:MSTR), while issuing a stark warning on its future.

What Happened: Schiff, a long-time Bitcoin (CRYPTO: BTC) critic, replied to a post on X by Strategy’s Executive Chairman, Michael Saylor, on Thursday. The post featured the highlights of a recent Bloomberg segment on the company’s Bitcoin stash, which now stands at 582,000, worth over $63 billion.

Schiff’s reply was blunt and did not hold back, as he accused Strategy’s business model of being “a complete fraud,” referring to the company’s pivot into becoming a proxy for Bitcoin.

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While the …

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