Peter Schiff brands MicroStrategy's STRC preferred stock a 'Ponzi scheme' amid Bitcoin dividend concerns.

Peter Schiff criticized MicroStrategy's STRC preferred stock, calling it a 'pure Ponzi scheme' due to its reliance on continuous capital inflows and Bitcoin price support. Schiff highlighted risks as the company depends on fresh capital and dividend payments, which MicroStrategy chairman Michael Saylor said might be supported by selling Bitcoin reserves if necessary. Schiff doubts the company would sell Bitcoin, predicting instead a suspension of dividends and collapse of STRC shares to protect Bitcoin holdings. This debate follows MicroStrategy's significant Q1 2026 loss, raising concerns about the sustainability of its dividend strategy tied to Bitcoin and preferred stock offerings.