Peter Schiff, CEO of Euro Pacific Capital and a prominent Bitcoin critic, claimed that "Bitcoin is a new form of decentralized Ponzi" during a discussion about MicroStrategy (MSTR). Schiff explained, "Because BTC does not generate profit or dividends, existing investors must ultimately rely on new investors buying at a higher price to make a profit." He further criticized MicroStrategy's (MSTR) corporate preferred stock product STRC, stating, "This is not merely a decentralized structure, but a typical centralized Ponzi operated by MSTR." Previously, MicroStrategy founder Michael Saylor refuted Schiff's STRC Ponzi claim, saying, "He is someone who has never liked Bitcoin and this industry."
