Peter Schiff Highlights MicroStrategy's Bitcoin Sales at Significant Loss Amid Shifting Strategy

Economist Peter Schiff criticizes MicroStrategy for selling thousands of Bitcoin at around $60,000 each, realizing multimillion-dollar losses. With over 840,000 BTC still held, questions arise about the company's move from aggressive buyer to potential seller.

In a pointed critique on X, prominent Bitcoin skeptic and gold advocate Peter Schiff drew attention to MicroStrategy's (MSTR) recent Bitcoin divestment. According to Schiff, the company sold 3,588 BTC over the past two weeks at an average price of $60,196.73, resulting in a realized loss of approximately $15,000 per coin—or about $54 million total—based on its higher average acquisition cost.

MicroStrategy, long celebrated as Bitcoin's biggest corporate holder under Executive Chairman Michael Saylor, has accumulated more than 840,000 BTC. However, recent market conditions and the company's new "Digital Credit Capital Framework" have introduced limited selling. The framework, unveiled in late June 2026, authorizes up to $1.25 billion in Bitcoin sales primarily to cover preferred stock dividends, build cash reserves, and support buybacks.

Schiff argues this marks a pivotal shift, potentially turning MSTR from a major market buyer into a seller, which could exert downward pressure on Bitcoin prices trading near $60,000. "With over 840K Bitcoin left to sell, the total losses will be much greater," he noted.

The development comes as MSTR navigates a challenging environment: its Bitcoin holdings carry an average cost basis around $75,000, leaving the treasury underwater amid recent price action. While earlier sales were minimal (such as 32 BTC in late May for dividend obligations), the latest activity has fueled debate in crypto circles about the sustainability of corporate Bitcoin strategies.

Supporters view the sales as tactical capital management rather than a full retreat, while critics like Schiff see it as validation of long-standing warnings about leveraged Bitcoin exposure. Bitcoin's price has shown resilience but remains sensitive to large holder movements.

As MSTR continues to balance its massive BTC treasury with financial obligations, market watchers will closely monitor whether these sales represent prudent risk management or the start of broader liquidation.