Schiff questions Strategy’s 12% yield as bitcoin falls 19% this year

Peter Schiff questioned whether Strategy's preferred stock, traded as STRC, can keep paying its variable dividend after bitcoin fell 19% this year and the company posted losses over two consecutive years. He challenged the assumption that future bitcoin gains will cover the 12% yield on the income-paying security. The critique is an opinion from a longtime bitcoin skeptic, but it highlights balance-sheet risk at the largest corporate bitcoin holder if prices stay weak.