Peter Schiff renewed his criticism of Michael Saylor after Strategy’s massive Bitcoin treasury approached its average acquisition price around $75,500 amid broader market weakness.
According to an SEC filing published November 2, Strategy held 849,327 BTC as of November 1, following its latest purchase of 811 BTC for roughly $65.5 million. The company reported a cumulative acquisition cost of $64.08 billion, translating to an average purchase price of $75,451 per Bitcoin. With BTC trading near $75,955 on November 7, Strategy’s holdings were worth about $64.51 billion, leaving an unrealized gain of only about $428 million, or 0.67% above cost.
Brave New Coin data showed Bitcoin had a market capitalization of about $1.5 trillion and 24-hour trading volume of $22.1 billion, with 24-hour, seven-day, and 30-day declines of 0.16%, 1.89%, and 8.62% respectively.
Schiff argued on X that gold would have doubled investors’ money over the same six-year period, while questioning Saylor’s expectation that Bitcoin would appreciate roughly 30% annually over the next 20 years. However, market data shows Bitcoin itself rose from around $11,410 in August 2020 to about $75,955 in November 2026, an increase of approximately 566%, though Strategy’s average cost reflects hundreds of purchases at different price levels.
The debate also carried a political dimension after Democrats won control of both chambers of Congress in the 2026 midterms. Schiff linked BTC’s weakness to President Donald Trump’s political standing, while Bitcoin saw volatility around the election, briefly falling below $76,000 before failing to hold above $80,000.
