Ship "STRC 12% annual dividend, no basis for Bitcoin 30% rise"

Peter Schiff has challenged Strategy’s ($MSTR) STRC structure, arguing there is no basis for assuming bitcoin (BTC) will rise 30% annually to support the preferred stock’s 12% annual dividend. The Euro Pacific Capital chief economist noted BTC fell 6.5% last year and was down roughly 17% year-to-date at the time of his post, undercutting the return assumption embedded in the STRC payout. The critique matters because Strategy’s ability to service the 12% yield without eroding shareholder value depends on outsized BTC gains, and the debate puts the sustainability of its bitcoin-backed capital structure under scrutiny. Watch whether BTC can recover toward the growth rate implied by the STRC terms and how Strategy’s dividend coverage holds up if it does not.