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.
