Peter Schiff Challenges Michael Saylor’s $1 Million Bitcoin Call As MSTR Nears 4% Of BTC Supply

• In a post on X, Peter Schiff said  Bitcoin’s price would be below $60,000 by the time MSTR accumulates 5% of BTC supply.
• Strategy currently holds about 818,334 BTC, representing nearly 4% of the circulating supply.
• The Bitcoin proxy is also closing in on Satoshi Nakamoto’s estimated holdings of about 1.1 million BTC, which accounts for 5.2% of Bitcoin’s total supply.

Long-time Bitcoin (BTC) critic Peter Schiff on Monday challenged Strategy (MSTR) executive chairman Michael Saylor's claim that BTC’s price could reach $1 million once the company accumulates around 5% of the total supply. 

“MSTR now owns 3.9%,” he wrote in a post on X. “If buying the next 231,666 BTC has the same impact on Bitcoin's price as buying the last 231,666, Bitcoin will be below 60k when MSTR finally hits 5%.” 

MSTR remains committed to its ‘BTC Gain’ metric despite warnings of diminishing marginal returns in price action, like the one from Schiff. Saylor has called it the “Bitcoin Standard” and the “closest analog to net income” for measuring performance in BTC accumulation.

Michael Saylor Says Bitcoin Will Hit $1 Million

In December last year, the Strategy executive chairman stated that, on a larger scale, ownership thresholds would coincide with dramatically higher Bitcoin prices. If Strategy were to reach roughly 5% of Bitcoin’s circulating supply, Saylor said, the price could approach $1 million per coin. 

At 7.5%, he suggested Bitcoin could trade closer to $10 million, a move he attributed to structural supply constraints rather than speculative demand. “It costs us $50 billion to get to 3.2%. The next $50 billion won’t get me 3.2%—it’ll probably get me 1% or less,” Saylor said.

MSTR Nears 4% Of Bitcoin Supply Following New Buy

Schiff's comments come after Strategy announced it bought 3,273 BTC over the past week for around $255 million. The company’s overall Bitcoin holdings stand at around 818,334 BTC, which is nearly 4% of the apex cryptocurrency’s total circulating supply. 

Strategy is also closing in on Satoshi Nakamoto’s estimated 1.1 million BTC holdings, which account for roughly 5.2% of total supply. 

MSTR’s stock fell more than 1% in midday trade amid broader weakness in both the cryptocurrency and equity markets. Bitcoin’s price dropped more than 1.6% in the last 24 hours to around $76,800. The overall cryptocurrency market moved 1.4% lower, holding above $2.6 trillion.

On Stocktwits, retail sentiment around Strategy and Bitcoin remained in ‘bullish’ territory over the past day. Chatter remained at ‘high’ levels for MSTR’s stock, while chatter around BTC stayed at ‘normal’ levels. 

Read also: Michael Saylor’s Latest Bitcoin Buy Is 10x Smaller After $2.5B Spending Spree

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