News
Peter Schiff declares Michael Saylor's STRC dead amid heavy buybacks
Peter Schiff wrote that Michael Saylor's Strategy investment product STRC is "dead" and being kept alive only by artificial buybacks. He noted the product offers a 12% annual dividend but lacks sufficient yield to cover its risks as Bitcoin prices fall. Strategy reported spending $2.04 billion on STRC repurchases as of Oct 25. The firm also bought 1,036 BTC between Nov 2 and Nov 8 for an estimated $81.9 million at $79,012 per BTC, bringing its total holdings to 850,364 BTC.