Peter Schiff urges SEC to probe Michael Saylor's Bitcoin strategy as a risky scheme for retirees.

Peter Schiff, a prominent Bitcoin critic, has called on the U.S. Securities and Exchange Commission (SEC) to investigate Michael Saylor and his company Strategy for allegedly promoting a risky investment product called STRC to retirees. Schiff argues that STRC, a perpetual preferred stock linked to Bitcoin, is unsuitable for conservative investors seeking capital preservation and income, labeling it a potential Ponzi scheme. Saylor defends the model, stating it is not a financial pyramid and relies on high market liquidity and strategic Bitcoin purchases to sustain payments. Despite the controversy, Strategy's STRC instrument has regained value and seen increased Bitcoin accumulation, indicating ongoing market interest amid regulatory scrutiny.