Peter Schiff questions Strategy’s 12% preferred stock yield assumption

Cointime reports: Economist Peter Schiff on Nov. 12 challenged Strategy Inc.’s (Nasdaq: MSTR) preferred stock financing model, saying STRC’s 12% annual yield rests on an assumption that the company’s bitcoin holdings will appreciate 30% a year. Bitcoin fell 6.5% last year and is down about 17% year to date, Schiff noted, leaving no basis for a 30% annual gain projection.