Economist Peter Schiff Fakes a Drop in Strategy's Stock Price to Question Its Corporate Bitcoin Strategy

This morning, long-time cryptocurrency skeptic economist Peter Schiff once again sharply criticized the strategy of Bitcoin company Strategy (formerly MicroStrategy, stock code MSTR) on X.

He pointed out that fortunately, Strategy is not included in the S&P 500 index. If it were, its stock's 47.5% decline in 2025 would make it the sixth-worst performer in the index.

The core of Schiff's remarks is his ongoing skepticism towards the "Corporate Bitcoin Treasury" strategy advocated by Strategy's co-founder Michael Saylor.

He straightforwardly stated that Saylor has publicly claimed that corporate Bitcoin purchases are the best choice, and Strategy is a firm practitioner of this philosophy; but this move has not only failed to generate the expected appreciation, it has severely eroded shareholder returns, enough to prove the failure of the strategy.

This criticism comes amid a significant decline in Strategy's stock price in 2025. According to TradingView data, the company's stock fell sharply from a high of $457 earlier this year to around $152, a total decline of approximately 67%.

It is worth noting that earlier this year, Strategy was frequently discussed by the market as a potential inclusion in the S&P 500 due to its market value and profitability, but ultimately it was not selected. Schiff also used this "hypothetical inclusion" scenario to highlight the poor performance of the strategy from the perspective of mainstream financial markets.

In summary, Peter Schiff's criticism directly targets the fundamental disagreement between traditional financial investment concepts and the native camp of cryptocurrencies regarding the valuation of crypto assets.

As a typical example of Bitcoin being deeply tied to its stock, Strategy's stock price and its high correlation and volatility with Bitcoin have become the core focus of the debate.

Schiff's criticism of Strategy's stock performance and its failure to be included in the S&P 500 also serves as a warning to ordinary investors that any aggressive investment strategy that departs from mainstream evaluation frameworks and relies on a single narrative carries the risk of significant losses.

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