Michael Saylor Buys Another $2 Billion in Bitcoin — Peter Schiff Mocks His 'Skyscraper' Analogy

Michael Saylor's Strategy just purchased another 24,869 bitcoins worth over $2 billion at an average price of $80,985 per token. Year-to-date, Strategy achieved a BTC yield of 12.6% and remains the largest corporate holder of Bitcoin with a massive treasury of 843,738 tokens.

Overall, the company has acquired all BTC for around $83.87 billion at an average price of $75,700 per coin. These recurrent BTC purchases come months after Saylor pledged to buy BTC every quarter.

Saylor has also linked Bitcoin to Manhattan property, portraying Strategy's holdings as a digital version of skyscrapers that appreciate while acting as collateral for new debt. He believes that debt-backed assets that appreciate in value are how modern economies develop.

During Bitcoin 2026 in Las Vegas, Saylor had shared an endgame plan for a $1 trillion BTC balance sheet. His company finances BTC purchases through preferred shares such as STRC and STRF, which convert Bitcoin's projected growth into a perpetual capital base for further accumulation.

However, Peter Schiff refuted Saylor's analogy of New York buildings, arguing that ownership alone does not create any yield. Schiff wrote on X that a skyscraper generates monthly rent, but BTC generates only the next sale.

Schiff had earlier described Strategy's STRC as a centralised Ponzi scheme and had even urged the US Securities and Exchange Commission to open an antifraud probe into the firm's marketing of that instrument.

'No, if you own a NY skyscraper, you can collect a lot of rent. If you own Bitcoin, you collect nothing. That makes all the difference in the world,' Schiff had noted in a Sunday post on X.

The diverging views highlight the divide between Bitcoin as a store of value and conventional assets that generate steady income. While Saylor is alright with BTC scarcity and access to credit, the lack of cash flow is unacceptable for Schiff.

Saylor Plans to Burn His BTC Private Keys

Recently, Saylor had also disclosed his plans to burn the private keys to his Bitcoin wallet after his death. It would render his holdings inaccessible, and the tokens would be lost from circulation forever.

The strategy is a form of pro-rata contribution to all other Bitcoin holders, according to Saylor. With total BTC supply capped at 21 million tokens, Saylor believes burning the private keys would boost the scarcity aspect of BTC. Note that many Bitcoins have already been lost due to technical issues, losing access to cold wallets, or the death of holders with no succession in place.

Saylor thinks that every BTC that is no longer accessible adds to the intrinsic value of the cryptocurrency. Overall, the loss of a digital asset with limited supply reinforces scarcity, which is expected to eventually drive up BTC prices.

As a crypto billionaire, Saylor's legacy plans to support scarcity could become a tailwind for BTC prices, potentially making it even more valuable in the future.

Saylor had also highlighted earlier that Bitcoin's architecture, unlike conventional assets, operates without intermediaries as its decentralised network validates transactions through mathematical consensus, helping it stand out from fiat currencies.

Traditional assets involve counterparty risk. For instance, entities like banks, governments, or companies back these assets, and their value depends on the solvency and trustworthiness of the entities that back them. Saylor thinks this dependency becomes an issue during a systemic crash.

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