Peter Schiff, a prominent financial commentator, has labeled Strategy's preferred stock, STRC, as 'the largest Ponzi in the world' after the company claimed it was backed by Bitcoin. He expressed concerns that the stock's high yield of 11.5% is unsustainable and relies on continuous new investments. Schiff warned that if new investors stop buying in, the stock could crash to zero. This critique comes in the wake of Michael Saylor, the CEO of Strategy, announcing a significant Bitcoin purchase of 34,164 BTC for about $2.54 billion, raising the company's total Bitcoin holdings to 815,061 BTC. Despite criticism, Saylor remains bullish on Bitcoin, predicting it could reach $21 million per coin as it becomes a dominant form of digital capital, surpassing gold. He believes that increased recognition and integration of Bitcoin into financial systems will drive its value higher.