{"id":20731,"date":"2026-06-20T17:21:47","date_gmt":"2026-06-20T17:21:47","guid":{"rendered":"https:\/\/cryptoted.net\/index.php\/2026\/06\/20\/michael-saylor-fires-back-as-strc-crash-sparks-fraud-claims\/"},"modified":"2026-06-20T17:21:47","modified_gmt":"2026-06-20T17:21:47","slug":"michael-saylor-fires-back-as-strc-crash-sparks-fraud-claims","status":"publish","type":"post","link":"https:\/\/cryptoted.net\/index.php\/2026\/06\/20\/michael-saylor-fires-back-as-strc-crash-sparks-fraud-claims\/","title":{"rendered":"Michael Saylor fires back as STRC crash sparks fraud claims"},"content":{"rendered":"<p> <br \/>\n<br \/><img decoding=\"async\" src=\"https:\/\/media.crypto.news\/2025\/01\/crypto-news-Michael-Saylor-MicroStrategy-option06.webp\" \/><\/p>\n<div>\n<p class=\"is-style-lead\">Strategy co-founder Michael Saylor has defended the company\u2019s Bitcoin-backed capital strategy after its STRC preferred stock fell well below its $100 par value and triggered fresh criticism from market participants.<\/p>\n<div id=\"cn-block-summary-block_26554d96153ee6e6d9e2799460912e9a\" class=\"cn-block-summary\">\n<p>\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/p>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Michael Saylor defended Strategy\u2019s Bitcoin strategy as STRC plunged below its $100 par value.<\/li>\n<li>Peter Schiff floated fraud allegations while questioning Strategy\u2019s promotion of STRC shares.<\/li>\n<li>Jeff Dorman suggested selling up to $4 billion in Bitcoin could ease capital structure pressure.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>According to a June 20 X post by Saylor, Strategy\u2019s Bitcoin and cash reserves currently exceed its outstanding debt by approximately $48 billion. He noted that the company has raised more than $60 billion in additional capital since 2022 and used those funds to acquire Bitcoin.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-x wp-block-embed-x\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">When I gave this speech in October 2022, Bitcoin traded near $20,000, Strategy held 130,000 BTC worth about $2.6 billion, and <a rel=\"nofollow\" href=\"https:\/\/x.com\/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$MSTR<\/a> was ~$24 split-adjusted. Weeks later, after Bitcoin fell below $16,000, our debt exceeded the combined value of our BTC and cash reserves by ~$300\u2026 <a rel=\"nofollow\" href=\"https:\/\/t.co\/nWl9YlN11s\">pic.twitter.com\/nWl9YlN11s<\/a><\/p>\n<p>\u2014 Michael Saylor (@saylor) <a rel=\"nofollow\" href=\"https:\/\/x.com\/saylor\/status\/2068278654455488789?ref_src=twsrc%5Etfw\">June 20, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>To illustrate the contrast with today, Saylor pointed to Strategy\u2019s position during the 2022 crypto bear market. At the time, the company held around 130,000 Bitcoin worth roughly $2.6 billion while Bitcoin traded near $20,000.<\/p>\n<p>After the cryptocurrency fell below $16,000, Strategy\u2019s debt temporarily exceeded the combined value of its Bitcoin and cash reserves by about $300 million. During the same period, MSTR stock declined from around $24 to the $13 range on a split-adjusted basis.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe stayed focused, strengthened the company, and executed our strategy. Since then, Strategy has raised over $60 billion of additional capital and invested it in Bitcoin, adding more than 716,000 BTC,\u201d said Saylor.<\/p>\n<\/blockquote>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>The comments arrived as investors debated the implications of STRC\u2019s recent decline and questioned whether the company\u2019s financing model remains sustainable.<\/p>\n<p>Bitcoin critic Peter Schiff escalated those concerns by suggesting that investors could <a href=\"https:\/\/crypto.news\/peter-schiff-accuses-michael-saylor-of-misleading-strc-buyers\/\" target=\"_blank\">pursue legal action<\/a> against Strategy and Saylor. Schiff also argued that Saylor may have violated SEC marketing rules through the way he promoted the preferred stock offering.<\/p>\n<h2 class=\"wp-block-heading\">Some investors see Bitcoin sales as the simplest solution<\/h2>\n<p>Recent pressure on STRC has also prompted alternative proposals from market observers.<\/p>\n<p>As previously <a href=\"https:\/\/crypto.news\/arcas-jeff-dorman-sees-only-one-fix-for-strategys-strc-crisis\/\" target=\"_blank\">reported<\/a> by crypto.news, Arca Chief Investment Officer Jeff Dorman suggested the company may eventually need to sell between $3 billion and $4 billion worth of Bitcoin to ease pressure on its capital structure and support STRC holders.<\/p>\n<p>While Dorman assigned a 25% probability to that outcome, he said his base-case scenario, with a 70% probability, involves Strategy continuing to sell small amounts of MSTR stock. Under that scenario, Bitcoin holdings would remain largely intact, though common shareholders could face additional downside.<\/p>\n<h2 class=\"wp-block-heading\">Supporters reject comparisons to Terra<\/h2>\n<p>While criticism has intensified, several Bitcoin advocates have publicly defended Saylor and Strategy.<\/p>\n<p>Fox and Sky News contributor David Gokhshtein <a href=\"https:\/\/x.com\/davidgokhshtein\/status\/2068143318475714748\" target=\"_blank\" rel=\"nofollow\">argued<\/a> on X that Bitcoin\u2019s current market value cannot be attributed to a single individual. He criticized efforts to blame Saylor for broader market movements and dismissed comparisons between Strategy and the collapsed Terra ecosystem.<\/p>\n<p>Those comparisons gained traction after crypto analyst Ali Martinez suggested <a href=\"https:\/\/crypto.news\/ali-martinez-warns-strategys-strc-mirrors-terras-danger-loop\/\" target=\"_blank\">similarities between<\/a> STRC and Terra\u2019s LUNA token structure. Responding to the debate, Bitcoin advocate Samson Mow described STRC as a \u201cbrilliant instrument\u201d and stated that he sees no structural flaw in the security unless investors believe Bitcoin will fail to appreciate over the long term.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-x wp-block-embed-x\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow\" href=\"https:\/\/x.com\/search?q=%24STRC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$STRC<\/a> is a brilliant instrument. It\u2019s effectively what I tried to do with Bitcoin Bonds: strip out the volatility from Bitcoin and share the upside with investors. There is a massive market for a product like this somewhere in the ballpark of $200 trillion.<\/p>\n<p>There\u2019s nothing\u2026<\/p>\n<p>\u2014 Samson Mow (@Excellion) <a rel=\"nofollow\" href=\"https:\/\/x.com\/Excellion\/status\/2067861360227041360?ref_src=twsrc%5Etfw\">June 19, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>Separate concerns have also emerged around liquidity. Market maker QCP previously <a href=\"https:\/\/crypto.news\/qcp-warns-strategy-may-sell-more-bitcoin-to-fund-dividends\/\" target=\"_blank\">estimated<\/a> that Strategy\u2019s available resources could cover preferred dividend obligations for roughly seven and a half months.<\/p>\n<p>QCP added that if existing financing channels become less attractive, alternative funding options may eventually be required, with Bitcoin sales remaining one possible path.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><br \/>\n<br \/><a href=\"https:\/\/crypto.news\/michael-saylor-fires-back-as-strc-crash-sparks-fraud-claims\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Strategy co-founder Michael Saylor has defended the company\u2019s Bitcoin-backed capital strategy after its STRC preferred stock fell well below its $100 par value and triggered fresh criticism from market participants. Summary Michael Saylor defended Strategy\u2019s Bitcoin strategy as STRC plunged below its $100 par value. Peter Schiff floated fraud allegations while questioning Strategy\u2019s promotion of [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":20732,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[23],"tags":[],"kronos_expire_date":[],"class_list":["post-20731","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"_links":{"self":[{"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/posts\/20731","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/comments?post=20731"}],"version-history":[{"count":0,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/posts\/20731\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/media\/20732"}],"wp:attachment":[{"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/media?parent=20731"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/categories?post=20731"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/tags?post=20731"},{"taxonomy":"kronos_expire_date","embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/kronos_expire_date?post=20731"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}