Peter Schiff Says Strategy Is No Longer a Leveraged Bitcoin Bet, Warns MSTR Shareholders of Infinite Dilution

Peter Schiff warned that Strategy's financing model is eroding MSTR's appeal as a leveraged bitcoin investment. He argued ongoing share issuance will dilute bitcoin exposure for common shareholders while benefiting creditors and preferred investors. A bitcoin recovery could restore MSTR's appeal, but the capital structure faces a test.