Peter Schiff, a longtime gold advocate and frequent Bitcoin critic, has taken aim at Strategy’s Bitcoin holdings after the cryptocurrency’s recent price weakness brought the company’s position close to its average acquisition cost of approximately $75,500. In a social media post on Saturday, Schiff delivered a pointed message aimed at Bitcoin supporters and Strategy executive chairman Michael Saylor.

Six Years of Accumulation Under Scrutiny

Strategy began purchasing Bitcoin in 2020 and has since made the cryptocurrency a core component of its corporate treasury strategy. Through repeated acquisitions at varying market prices, the company has built one of the largest corporate Bitcoin positions in existence. Recent market declines have compressed the gap between the current Bitcoin price and Strategy’s reported average cost basis of around $75,500.

Schiff used the development to challenge the results of that multi-year program. He referenced earlier comments attributed to Saylor suggesting expectations of roughly 30 percent annual returns from Bitcoin. According to Schiff, the six-year effort has failed to deliver those projected gains, leaving the holdings near break-even on a cost basis.

Approaching the average purchase price does not mean Strategy has realized losses. The company continues to hold its Bitcoin rather than sell, consistent with its stated long-term strategy of accumulating and retaining the asset through market cycles.

Gold Versus Bitcoin Comparison Reignited

Schiff extended his criticism by arguing that an equivalent investment in gold over the same six-year period would have doubled in value. The claim renews a long-running debate between the two investors over the relative merits of Bitcoin and precious metals as stores of value.

Schiff has consistently positioned gold as a more reliable long-term asset, while Saylor has championed Bitcoin as superior for corporate treasuries seeking to preserve and grow purchasing power. The latest exchange focuses specifically on the performance of Strategy’s accumulation program rather than Bitcoin’s broader historical returns.

Direct comparisons between the two assets depend on precise entry points, purchase sizes, and holding periods. Strategy’s average cost reflects numerous transactions executed across different market conditions, complicating simple side-by-side return calculations.

Ongoing Debate Over Corporate Bitcoin Strategies

The exchange underscores the persistent divide between Bitcoin advocates who view sustained accumulation as a sound long-term approach and critics who question the risk-adjusted returns of such strategies. Strategy has continued expanding its holdings through subsequent purchases even as prices fluctuated, maintaining its position as a high-profile corporate Bitcoin holder.

Schiff’s remarks arrive amid broader market weakness that has tested support levels near the $75,500 zone. Whether the proximity of Strategy’s cost basis influences market sentiment or further accumulation decisions remains a point of discussion among market participants. The fundamental disagreement between Schiff and Saylor over Bitcoin’s role as a treasury asset shows little sign of resolution.