Worst Thing to Happen to Bitcoin Named by Canadian Billionaire

Canadian billionaire investor Frank Giustra has blasted Michael Saylor following Strategy's latest $102.3 million Bitcoin sale.

Alex Dovbnya · 3 Aug 2026 · 4 min read

Wire content from U.Today

Worst Thing to Happen to Bitcoin Named by Canadian Billionaire

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By
Alex Dovbnya

Mon, 3/08/2026 – 15:45

Canadian billionaire investor Frank Giustra has blasted Michael Saylor following Strategy’s latest $102.3 million Bitcoin sale.

Worst Thing to Happen to Bitcoin Named by Canadian Billionaire

Cover image via U.Today

Canadian billionaire investor Frank Giustra has slammed Michael Saylor following Strategy’s latest BTC sale.

This time, he has argued that the executive has done more harm than good for the world’s largest cryptocurrency.

The remarks came shortly after Strategy disclosed that it had sold another 1,637 BTC worth roughly $102.3 million as part of its treasury management strategy.

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Despite the sale, the company remains by far the largest corporate Bitcoin holder, with 842,138 BTC valued at approximately $52.65 billion.

“An albatross”

Longtime Bitcoin critic Peter Schiff also weighed in on Strategy’s latest move, arguing that the company’s recent capital management decisions are becoming increasingly burdensome for shareholders.

Schiff noted that Strategy sold approximately 1,638 BTC and more than three million MSTR shares over the past week to raise cash and repurchase STRC preferred stock.

According to him, those actions reduced the company’s year-to-date Bitcoin yield to 3.5%, down 74% from its May peak.

He argued that STRC has become “an albatross” around Strategy’s neck. He has predicted that the financing structure will require additional Bitcoin sales and continued dilution of common shareholders.

Schiff rejected claims that the transactions remain accretive for common stock investors. He maintains that they are dilutive.

According to the gold bug, Strategy remains in what he described as a “death spiral.”

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