- Peter Schiff commented on the STRC crash.
- The shares sank to $82.5 against a par value of $100.
- He believes that Strategy and Michael Saylor deceived investors.
On the evening of June 18, 2026, the rate of Strategy's floating-dividend-rate preferred shares STRC fell below $83 against a par value of $100. This was commented on by the well-known skeptic Peter Schiff, who noted that prison awaits Michael Saylor.
What is STRC?
These are floating-dividend-rate preferred shares that Strategy positions as a yield instrument with a low degree of risk. The par value for these securities is set at $100.
If the price falls below this threshold, the company raises the dividend rate, thereby compensating holders for losses. With the proceeds, Strategy buys bitcoins, increasing the share of the first cryptocurrency per share.
Despite the market instability, the company kept the dividend rate at 11.5%, according to its official website.
According to the portal, the volume of par value in circulation is $10.5 billion, which creates a debt burden of $1.2 billion per year.
At the time of writing, STRC trades at $88.8. At one point the quotes fell to $82.5.
Schiff's criticism
"The financial house of cards is collapsing. The discount of MSTR shares relative to its bitcoin holdings is growing rapidly, STRC is crashing, and bitcoin itself is crashing, dragging the rest of the cryptocurrencies down with it. Soon Saylor will change his orange tie for an orange jumpsuit," — the skeptic said.
According to him, affected investors can sue Strategy and Saylor personally. Schiff stressed that the company and its former CEO emphasized yield in promoting the securities without disclosing the risks. He also stated directly that Saylor violated the current rules of the U.S. Securities and Exchange Commission (SEC).
In the discussion under Schiff's post, one of the users asked him whether he himself should be sued for recommending buying gold. The precious metal sank by about 30% relative to its all-time high.
To this he answered the following:
"I have been recommending buying gold ever since its price was below $300. I did not advise putting all your money in when the price was $5,500. If you bought part of your gold at that price, then now you can buy more at $4,200 and lower your average purchase price. The long-term trend is upward."
This is not the first time Schiff has criticized Saylor. He also invited him to hold a debate, but so far this has not happened.
Source: Incrypted
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