“As I warned, MSTR’s death spiral has pricked the Bitcoin bubble,” Schiff wrote on X, also flagging a 7% drop in Strategy’s preferred shares and Bitcoin’s 54% decline from its October 2025 high.
His tweet landed the same day Rosen Law Firm announced an investigation into Strategy and founder Michael Saylor over potentially misleading business claims.
The Preferred Stack Cracks
Strategy shares traded as low as $92.28 Thursday, near their lowest level in nearly two years.
The bigger story may be in the company’s preferred shares.
