Renowned Bitcoin critic and gold advocate Peter Schiff has once again taken aim — this time at Michael Saylor, founder and executive chairman of MicroStrategy, for his bold declaration during the keynote at the Bitcoin MENA conference. Saylor claimed that his firm’s goal is to buy all available Bitcoin. “We’ll buy it all,” he stated confidently — a remark that drew immediate mockery from Schiff.
Saylor Aims to Turn the Middle East into a Bitcoin Sovereignty Hub
Michael Saylor delivered a 45-minute keynote speech to over 10,000 attendees including sovereign wealth fund reps, bankers, family offices, and hedge fund managers. He laid out a vision of transforming the Middle East into a global hub of Bitcoin-based financial infrastructure.
He described Bitcoin as “digital energy” — a programmable, scarce asset that could power a new era of economic sovereignty. MicroStrategy, which currently holds over 650,000 BTC, reaffirmed its commitment to aggressive accumulation, despite market fluctuations.
Schiff: That 8% Yield Exists Only in Saylor’s Imagination
Peter Schiff wasted no time in responding. He criticized not only Saylor’s maximalist approach to Bitcoin but also MicroStrategy’s use of preferred stock offering investors a promised 8% yield backed by the firm’s Bitcoin reserves.
But Schiff argued this yield only exists as long as Bitcoin’s price keeps going up. If the growth slows or reverses, the entire structure could collapse.
“There is no actual cash flow behind it. The yield only exists in Saylor’s imagination,” Schiff posted on social media.
Risk or Revolutionary Vision?
Saylor’s speech came shortly after MicroStrategy revealed its largest Bitcoin purchase in recent months. However, critics are warning that the strategy — built entirely on price speculation without generating real income — is dangerously fragile.
While Schiff believes it’s a bubble destined to burst, Saylor continues to promote Bitcoin as the only path to digital financial freedom.
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