Home / Analysis / Crypto / Technical Analysis / Peter Schiff Blasts Michael Saylor, Says Strategy’s MSTR Will Deliver ‘Worse Returns’ After 50% 2025 Crash — Will It?
He repeatedly labeled the company’s strategy a “disastrous decision” as the firm continued to accumulate BTC despite market volatility.
Specifically, Schiff slammed the business model as a “fraud” and a “Ponzi scheme,” arguing that the company’s reliance on high-yield preferred shares would eventually trigger a “death spiral.”
The stock registered a nearly 50% decline in 2025, significantly underperforming both the S&P 500 and Bitcoin itself.
As 2026 begins, Schiff remains steadfast in his bearish outlook.
He recently predicted that the new year would not offer any relief for the company. Furthermore, he suggested that the MSTR 2026 prediction could become “far worse” if Bitcoin drops below key support levels, potentially forcing the firm to deleverage.
“How desperate can you be? You can’t even afford to pay 10%, since Strategy is losing money, so now you’re going to pay 11%. This just proves your preferred is junk. I wonder how much more you’ll be forced to pay by year-end. $MSTR will likely deliver even worse returns in 2026,” Schiff responded to a Saylor post on X.
672K BTC Remains on Balance Sheet
Despite the broader uncertainty, Strategy has shown no signs of slowing its Bitcoin accumulation. At the time of this press release, the firm holds 672,497 BTC, valued at approximately $59.70 billion.
That stash represents roughly 3.19% of Bitcoin’s fixed 21 million supply, signifying Strategy’s growing influence as one of the largest single holders of BTC and highlighting the degree of supply concentration building among institutional entities.
Crowded Trades Raise Volatility
Furthermore, on average, MSTR’s Open Interest (OI) surged by an average of 84%, even as the stock price tumbled by 50%. This divergence is a significant signal for market analysts.
Specifically, rising OI reflects the total number of outstanding derivative contracts that have not yet been settled.When this metric climbs alongside a falling stock price, it typically indicates a short build-up.
In a healthy rally, both price and OI rise together. However, MSTR’s 2025 data suggests that new money entered the market to bet against the stock.
While some were likely hedging their existing Bitcoin exposure, many were likely skeptical. Should the MSTR price fail to rebound amid rising OI, 2026 will likely prove to be challenging like last year.
MSTR Price Analysis
From a technical perspective, the weekly chart shows that MSTR’s price is stuck in a descending channel.
Amid this downward trend, the Moving Average Convergence Divergence (MACD) has formed a bearish crossover, signaling a loss of momentum.
Currently, the stock is on the verge of declining below a critical support level at $151.95.
Furthermore, holder sentiment has slipped into the negative zone as the premium on the company’s Bitcoin holdings continues to evaporate.
Should demand fail to increase, the MSTR 2026 prediction suggests the price could fall to $101.37.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
