Peter Schiff Slams Saylor's $1M Bitcoin Call as Strategy Adds 3,273 BTC

CoinDesk reports that gold proponent Peter Schiff has renewed his criticism of Strategy and CEO Michael Saylor after the company disclosed another Bitcoin buy, again taking aim at Saylor's long-running prediction that bitcoin will eventually hit $1 million. Strategy said it purchased 3,273 BTC for about $255 million, paying an average of $77,906 per coin. The acquisition lifts the firm's holdings to 818,334 BTC, acquired for roughly $61.81 billion at an average cost of $75,537 per bitcoin, according to Saylor's post on X dated April 27, 2026. At around $77,850 per bitcoin at press time, Strategy's stash is valued at about $63.7 billion, implying roughly $1.9 billion in gains. The position has moved back into the green after months in which bitcoin traded mostly below $70,000 and the company's holdings sat underwater. Funding came through the firm's at-the-market equity program. In a Form 8-K filed with the U.S. Securities and Exchange Commission, Strategy said it sold 1,451,601 shares of Class A common stock (MSTR) between April 20 and 26, 2026, generating net proceeds of $255 million after commissions. The filing also noted no preferred stock sales during the period. Schiff argued the results are underwhelming and used the latest purchase to challenge Saylor's $1 million target. In a post on April 27, 2026, Schiff said Strategy now controls about 3.9% of bitcoin's supply after buying 231,666 BTC since Saylor's prior forecast. He added that if buying the next 231,666 BTC has the same price impact as the previous tranche, bitcoin could be below $60,000 by the time Strategy reaches 5% of total supply. Schiff's comments extend a broader critique of Strategy's accumulation strategy and bitcoin's role as an asset, while reiterating his view that gold is the superior store of value. He also criticized claims that bitcoin needs to rise only 2% annually to support STRC's 11.5% yield, arguing that ongoing issuance and equity sales would require faster price appreciation. Schiff warned that selling bitcoin to fund dividends could pressure the price and create a "death spiral," while canceling dividends could hit STRC, spill into MSTR and ultimately weigh on bitcoin as well.