Bitcoin critic Peter Schiff is watching MSTR very closely right now — and he’s not the only one.
Strategy (MSTR) stock fell below $100 Wednesday for the first time since March 2024. Shares hit a low of $97.30 shortly after the opening bell, recently trading around $98.05, a drop of nearly 5.5% on the day.
That puts MSTR down roughly 20% over the past five trading days and more than 38% over the past month.
The last time MSTR traded under $100 was March 1, 2024, when Bitcoin was in the same $61,000 to $62,000 range it’s sitting in now.
Bitcoin itself fell to $60,935 Wednesday, a two-week low. The world’s largest cryptocurrency peaked above $126,000 last October and has since shed more than 50% of its value.
Bitcoin has been under pressure as investors pull money from Bitcoin ETFs and rotate into AI stocks. A more hawkish tone from the Fed has added to the headwinds.
Strategy sold roughly 2.71 million MSTR shares last week, raising approximately $335.5 million. Most of that went toward rebuilding cash reserves, not buying Bitcoin.
The company added $300 million to its USD reserves, bringing the total to $1.4 billion. Executive Chairman Michael Saylor said the cash build supports the credit quality of Strategy’s Digital Credit securities.
Only a small portion — $35 million — went toward buying 520 BTC. That’s a fraction of recent purchase pace and hasn’t gone unnoticed by the market.
Strategy’s preferred share STRC, designed to trade near $100, fell to a low of $82.53 last week. It was trading around $84.35 Wednesday, down 3.4% on the day. The firm’s annual dividend obligations on preferred stock have now reached $1.2 billion, raising questions about how it funds those payments going forward.
Peter Schiff weighed in on X, warning that short sellers could push MSTR low enough to force Saylor’s hand. “If short sellers push $MSTR’s price low enough, they can put Saylor in a position where his best option would be to sell Bitcoin to buy back stock,” Schiff posted.
If short sellers push $MSTR's price low enough, they can put @Saylor in a position where his best option would be to sell Bitcoin to buy back stock. That would reduce the discount, but it may not raise the share price, as Bitcoin will crash. That's the box Saylor put himself in.
— Peter Schiff (@PeterSchiff) June 24, 2026
He added that such a move “would reduce the discount” on MSTR stock but warned that “Bitcoin will crash” if Strategy is forced to liquidate holdings.
Strategy made its first Bitcoin sale since 2022 earlier this month, breaking its long-held “buy and never sell” stance. That move rattled investor confidence and coincided with Bitcoin’s drop below $70,000.
Strategy’s year-to-date price performance stands at -31.66%. Its market cap sits at approximately $38.36 billion. Average daily trading volume is around 18.6 million shares.
The technical sentiment signal on MSTR is currently rated as a Sell.
The post Strategy (MSTR) Stock Falls Below $100 – Peter Schiff Says Saylor May Have No Choice But to Sell BTC appeared first on CoinCentral.
