According to Bitcoin.com, on November 12, economist Peter Schiff questioned the assumptions underlying Strategy Inc. (Nasdaq: MSTR) preferred stock (STRC) financing model. Schiff stated that STRC's structure assumes Bitcoin holdings will appreciate 30% annually, enabling the company to pay 12% annual returns to preferred shareholders while remaining profitable.
However, Schiff noted Bitcoin declined 6.5% last year and has fallen approximately 17% year-to-date in 2026, arguing there is insufficient justification for assuming 30% annual Bitcoin appreciation.