According to foreign media reports, Peter Schiff believes that Strategy's past advantage based on its Bitcoin holdings is waning. The company's stock price rose after it recently expanded its dollar reserves, but debate surrounding its treasury model has also intensified.

Yields have fallen significantly

Strategy's Bitcoin yield dropped from 13.3% to 4.5% in two months. Schiff said that if MSTR's advantage over Bitcoin disappears, investors will not need to take on additional corporate risk, and it may be simpler to just buy BTC.

Dollar reserves expand

Strategy currently holds 843,775 BTC and has also established US dollar reserves as a liquidity buffer. Saylor recently announced that it has increased its US dollar reserves by $525 million, bringing the total to $3.75 billion.

Preferred stock buybacks will proceed simultaneously.

The company also repurchased $25 million of STRC preferred stock. Supporters argue that this cash reserve can cover preferred stock dividends and other obligations for more than two years, demonstrating the company's commitment to bolstering its long-term cash holding strategy.