Strategy Inc., the company formerly known as MicroStrategy, just gave Peter Schiff exactly what he’s been waiting for: ammunition.
The company unveiled a Digital Credit Capital Framework on June 29 that includes something previously unthinkable for the firm that built its entire identity around accumulating Bitcoin. A Bitcoin Monetization Program authorizing the sale of up to $1.25 billion in Bitcoin for specific corporate purposes.
Schiff, the gold evangelist who has spent years warning that Strategy’s leveraged Bitcoin strategy would eventually crack, wasted no time declaring the company a “Bitcoin seller.” And technically, he’s not wrong. But the full picture is, as usual, more complicated than a tweet suggests.
What Strategy actually announced
The new framework doesn’t signal a fire sale. It authorizes discretionary Bitcoin sales for three narrowly defined purposes: funding a USD Reserve, covering preferred stock dividends, and supporting securities repurchases.
