Schiff Targets Strategy’s STRC as Buybacks Support Its 12% Yield

Peter Schiff has declared Strategy’s STRC preferred stock “dead,” according to Crypto Economy and U.Today. The longtime Bitcoin critic argued that the product is being kept viable through company buybacks rather than ordinary investor demand, even though both outlets cite a headline dividend yield of 12%.

Crypto Economy reported that Strategy had allocated a total of $2.04 billion to STRC buybacks as of the close of the third quarter. That figure places the scale of the company’s support directly against the 12% yield at the center of Schiff’s criticism and suggests that capital allocation is central to the debate surrounding the preferred stock.

The two accounts agree on the substance of Schiff’s position and on the 12% yield. Crypto Economy provides the specific $2.04 billion buyback figure from company data, whereas U.Today frames the purchases as artificial life support and emphasizes the contrast between an attractive stated yield and Schiff’s negative assessment. Neither outlet reports a competing number.

Live market data present a subdued backdrop. DeFiLlama lists yield TVL at $103.92 million, down 10.8% over seven days. Bitcoin traded at $74,795, down 1.37% over 24 hours and 2.74% over seven days, while its market capitalization stood at $1.5 trillion. Total crypto market capitalization was $2.56 trillion, the broader market was broadly lower, and the Fear & Greed Index registered 29, indicating a “Fear” reading.

The significance of the development is the question it raises about STRC’s market support: continued buybacks could remain central to sustaining the product while its quoted yield attracts attention. The figures to monitor are Strategy’s buyback allocations, the direction of yield-sector TVL and the cost of maintaining the advertised payout. The available reporting does not establish that the product will cease operating; Schiff’s characterization is his assessment of its underlying demand and financial mechanics.