Michael Saylor has built his reputation around the idea that companies should consider Bitcoin as one of the most important treasury assets. On the other hand, Peter Schiff has criticized BTC for years and warned that it will eventually fail.
But this week something surprising happened.
Saylor’s company, Strategy, announced that it bought another 2,486 BTC and brought it with it total Bitcoin holdings up to 717,131 BTC, worth over $54.5 billion.
With this, Strategy now controls approximately 3.4% of all Bitcoin that will ever exist.
The last purchase alone cost approximately $168.4 million, while Bitcoin was purchased at an average price of $67,710. But what is eis even more surprising? Schiff gave a rare, almost grudging acknowledgment of the magnitude of this move.
Schiff turns praise into a warning
Schiff responds to Saylor’s tweet said,
“Congratulations, you’ve finally averaged your price.”
But despite mild appreciation, Schiff has again warned against Saylor’s strategy. He has criticized Saylor’s practice of lowering the average, which means buying more Bitcoin when prices fall.
In simple terms, he believes that as Bitcoin [BTC] continues to decline, buying more could only increase overall losses.
MSTR and BTC price action and more
At the same time, Strategy and BTC shares provide a worrying picture of the market.
According to Google Finance data, MSTR was trading around $128.67 and it is fallen almost 4% in the short term and almost 20% in the past month.
Bitcoin also had a hard time trade nearly $67,661 and down about 26% in the last 30 days.
Another important signal comes from Open Interest.
Source: CoinGlass
Previously, the Open Interest was very high, which shows that many traders were using borrowed money and taking big risks. Now both the price of Bitcoin and the Open Interest are coinciding.
This shows that risky traders are leaving and losses are driving out weaker players. Simply put, the market is cooling and serious long-term investors are slowly replacing short-term speculators.
MSTR’s Open Interest Analysis
Meanwhile, the MSTR options market suggested that many traders view $100 as a strong support level at which buyers could intervene, while heavy selling between $130 and $150 makes this range difficult to exceed. Some risky bets at $200 and $300 show that hopes for a big Bitcoin-led rally are still alive.
Source: Options Charts
At the time of writing, the MSTR was moving between $110 and $140, indicating market uncertainty.
A clear move above $150 could lead to a quick rally, while a decline around $100 could attract buyers. Overall, Strategy remains caught between long-term confidence and serious financial risks.
Whether this bold approach succeeds will largely depend on whether Bitcoin regains strength or continues to decline.
Other companies and their Bitcoin strategy
While Strategy is buying more and more Bitcoin, its Japanese counterpart, Metaplanet, is under pressure. In its Q4 2025 earnings report, the company posted a massive net loss of $619 million.
Therefore, as 2026 progresses, these companies will be judged not on short-term profits, but on how well they cope with sharp price drops of 20 to 30%.
For now, their approach is to buy on dips, ignore the market noise and wait for the next cycle to turn losses into long-term gains.
Final summary
- Peter Schiff briefly acknowledged Saylor’s move, but still believes that “lowering the average” could lead to bigger losses.
- Declining open interest suggests that risky traders are leaving and the market is shifting to more serious long-term players.