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Renowned economist and long-time Bitcoin critic Peter Schiff has once again voiced strong criticism of Michael Saylor’s company, Strategy, warning that MSTR stock could deliver even worse returns in 2026. Schiff’s comments come at a sensitive time for the company, as MSCI prepares to decide whether digital asset treasury firms like Strategy should be classified as investment funds, a move that could significantly impact the stock.
In a recent post on X, Schiff targeted Strategy’s newly issued preferred stock, STRC, which Michael Saylor announced now pays an 11% monthly dividend. Schiff described the higher dividend as a sign of financial desperation, arguing that the company was already struggling to sustain its initial 10% payout. According to Schiff, the decision to increase the dividend only reinforces his view that STRC is “junk,” and he believes this will ultimately weigh even more heavily on MSTR stock performance.
The economist pointed out that MSTR ended last year down roughly 50% from its 2025 peak above $400. The stock experienced a sharp decline in the second half of the year, coinciding with a broader downturn in the crypto market as Bitcoin fell below $100,000 in November. Schiff argues that if Bitcoin declines further this year, as he expects, the pressure on Strategy’s balance sheet and share price could intensify. He has also claimed that Strategy would have ranked among the worst-performing stocks in the S&P 500 had it been included, asserting that the company’s aggressive Bitcoin acquisition strategy has eroded shareholder value.
Adding to the uncertainty is MSCI’s upcoming decision, expected on January 15, on whether digital asset treasury companies qualify as funds rather than operating businesses. If Strategy is removed from MSCI’s global equity indices, analysts warn the impact could be severe. JPMorgan estimates potential outflows of around $2.8 billion, which could further depress MSTR stock. Market sentiment reflects this risk, with Polymarket data suggesting a 77% probability that Strategy will be delisted from MSCI indices by March 31.
As investors await the MSCI decision, Schiff’s bearish outlook continues to fuel debate around Strategy, Bitcoin exposure, and the future performance of MSTR stock.
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