Saylor’s Strategy would have done better without Bitcoin, says Peter Schiff
Peter Schiff claims MicroStrategy would have seen better returns by avoiding Bitcoin investments over the last five years.Summary
Gold advocate and Bitcoin critic Peter Schiff asserted that MicroStrategy (MSTR) would have achieved stronger returns had CEO Michael Saylor avoided allocating capital to Bitcoin. Schiff claimed that based on an average cost of $75K per Bitcoin, the company's five-year investment yielded only a 16% "paper profit," equating to an annual return of just over 3%. This critique came as MSTR stock extended its decline, being down 46% in 2025. However, Schiff's calculation faced immediate backlash from experts like Willy Woo and Revaz Shmertz, who argued he misrepresented performance by averaging the cost basis without accounting for the staggered timing of purchases. Meanwhile, MicroStrategy announced a recent purchase of 1,229 BTC, bringing its total holdings to 672,497 BTC, while also increasing its cash buffer to $2.2 billion. Data shows Bitcoin surged approximately 219% over the past five years, while gold climbed about 130% in the same period.
(Source：Crypto Briefing)