Reason to trust
A strict editorial policy that focuses on accuracy, relevance and impartiality
Created by industry experts and carefully reviewed
The highest standards in reporting and publishing
A strict editorial policy that focuses on accuracy, relevance and impartiality
Morbi pretium leo and nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
Strategy’s favorite equity instrument, STRC, was trading below its par value of $100 – a detail that has quietly caught the attention of investors eyeing the company’s ability to continue funding its Bitcoin purchases.
RR
Saturn intervenes as the questions pile up
The company behind the Bitcoin The treasury strategy has recently attracted new capital despite the uncertainty. Saturn, a STRC-backed returns provider, has invested $18 million into STRC, bringing its total investment to $33 million.
The move came even as critics questioned whether demand for the instrument is strong enough to support Strategy’s aggressive acquisition pace.
STRC offers holders a monthly payout with an annual return of 11.5%, and the money raised goes directly towards buying more Bitcoin.
Still, the underperforming share price raises questions. An account tracking STRC activity posted online over the weekend, estimating that approximately zero Bitcoin was purchased over the past week. “What will Monday’s 8-K confirm?” the post asked.
The food continues. pic.twitter.com/tBDs2z0b4z
— Michael Saylor (@saylor) April 26, 2026
That question may already have an answer in the works.
Saylor places the orange dots again
On Sunday, April 26, Michael Saylor posted a simple message on X: “The beat continues.” Attached was Strategy’s so-called “Orange Dots” chart, a visual record of every Bitcoin purchase the company has made. Based on past trends, the message is widely read as a signal that another takeover announcement is coming.
Strategy now owns over 815,000 Bitcoin. Last Monday, the company added to that total with a $2.54 billion purchase, cementing its position as the largest corporate holder of Bitcoin in the world. No other listed company comes close.
The title of Saylor’s post – “The Beat Goes On” – reflects the tone he has maintained for years: steady accumulation, public signals and almost total indifference to critics.
BTC
Schiff calls it a “Ponzi” scheme
Peter Schiffone of Bitcoin’s most outspoken long-term critics, has taken particular aim at STRC lately. He called it “the most obvious Ponzi that ever existed” and warned that the math behind the product does not hold up to scrutiny.
The claim that Bitcoin only needs to rise 2% per year to cover the 11.5% return $STRC indefinitely $MSTR stops issuing STRC. But Saylor actually increases the issuance. The more STRC MSTR sells, the more BTC must rise to cover the proceeds. And if the price of STRC…
— Peter Schiff (@PeterSchiff) April 25, 2026
His argument focuses on the relationship between STRC issuance and Bitcoin price growth. According to Schiff, the claim that Bitcoin only needs to rise 2% annually to cover STRC’s 11.5% return assumes the company will stop issuing more STRC.
RR
As issuance grows, so does the required rate of Bitcoin appreciation. He also warned Saylor of possible lawsuits, saying the product’s marketing could be seen as misleading.
Schiff sees only one way out of what he calls a death spiral: canceling the dividend. But he says this move in itself would cause steep losses to STRC, Strategy stock and Bitcoin prices.
Strategy has not publicly responded to Schiff’s claims. Saylor, for his part, seems unmoved. The orange dots are always added to the graph.
Featured image of Gemini, chart from TradingView