Saylor's Bitcoin Strategy Fails in 2026, Peter Schiff Says

He reminded Saylor about the importance of Bitcoin yield touted earlier on as a vital metric for the company’s success.

Essentially, Bitcoin yield shows the percentage change in Bitcoin holdings for Strategy. It is calculated in reference to its assumed diluted shares outstanding. A negative Bitcoin yield implies that Bitcoin per diluted share is actually lower than before despite the company still accumulating more Bitcoin.

Now, it looks like Bitcoin yield has turned into an argument against Saylor’s investment thesis since, so far, the number of Bitcoin per common share is actually down.

However, Bitcoin yield is not a measure of Strategy stock or investment returns on its holdings.

Strategy keeps buying Bitcoin

Schiff’s statement comes after Saylor’s latest announcement about Strategy buying 250 $BTC more and repurchasing around $192 million of its preferred shares.

The company spent around $21.5 million on the newest $BTC acquisition, paying on average $86,194 per coin.

As of Oct. 11, Strategy’s total Bitcoin holdings stand at a mind-blowing 848,250 $BTC. These coins were bought at a total cost of around $64 billion (average price per Bitcoin of $75,444).

In addition, the company has around $5.5 billion in total dollar cash/reserves (U.S. dollars).