Peter Schiff has renewed his criticism of Michael Saylor’s Bitcoin investment strategy as the cryptocurrency’s recent price weakness brings Strategy’s holdings closer to the company’s reported average purchase price of $75,500.
In a recent post on X, the gold advocate questioned the returns generated by Strategy’s six-year Bitcoin accumulation program. Schiff used the development to challenge earlier expectations associated with Saylor’s investment approach, including annual returns of around 30%.
Schiff Questions Strategy’s Bitcoin Investment Returns
Schiff sarcastically congratulated Bitcoin supporters while arguing that Strategy’s extended accumulation period had delivered disappointing results. His comments focused on the company’s investment performance as Bitcoin moved closer to its reported acquisition cost.
Strategy began purchasing Bitcoin in 2020 and gradually made the cryptocurrency a central component of its corporate treasury policy. The company expanded its position through multiple purchases conducted at different market prices over the following years.
The recent decline in Bitcoin’s market price has brought the asset closer to Strategy’s average purchase price of approximately $75,500. However, trading near that level does not by itself mean the company has realized losses on its holdings.
Peter Schiff Says Gold Would Have Outperformed Bitcoin
Schiff also argued that Strategy would have achieved stronger investment results if Saylor had allocated the equivalent funds to gold. According to Schiff, an equivalent investment in the precious metal would have doubled in value over the same six-year period.
The comparison reflects Schiff’s longstanding position that gold is a more dependable store of value than Bitcoin. He has repeatedly questioned Bitcoin’s valuation while advocating precious metals as an alternative investment.
However, comparing Strategy’s Bitcoin accumulation with a hypothetical gold investment involves several variables, including purchase dates, transaction amounts, and the market prices of both assets throughout the period. Strategy’s reported average cost reflects multiple Bitcoin purchases rather than a single investment made at one point in time.
Saylor’s approach has centered on holding Bitcoin over an extended period despite significant market volatility. Schiff’s latest remarks highlight the continuing disagreement between the two investors over Bitcoin’s long-term investment value as the cryptocurrency approaches Strategy’s reported cost basis.
Writer: Marcus Renfield Crypto Market Analyst & Onchain Writer
Marcus Renfield covers cryptocurrency markets with a focus on onchain data, Bitcoin price action, and emerging market narratives. His writing examines how capital flows, network activity, and broader market structure influence short- and medium-term trends.
He aims to provide clear, data-informed analysis for readers seeking a deeper understanding of crypto market dynamics.
