Peter Schiff says Strategy’s $101 million, 1,550-BTC purchase diluted Bitcoin per share

Peter Schiff publicly criticized MicroStrategy (Strategy)’s recent financing approach, saying it raised $101 million in June by issuing discounted shares to buy 1,550 BTC. He argued the transaction reduced Bitcoin per share and produced a negative Bitcoin yield, which he said undermines shareholder value. Schiff also warned that owning MSTR is “the worst way” to be bullish on Bitcoin. The episode has drawn attention to deterioration in Strategy’s stock fundamentals, without a direct transmission link to traditional assets.