Peter Schiff Slams Bitcoin Treasury Stocks: A Closer Look at the Debate

Peter Schiff, the vocal critic of Bitcoin, has recently taken aim at Bitcoin treasury stocks, labeling them as even more absurd than buying Bitcoin directly. As these stocks gain popularity amid regulatory challenges, the debate over their value and future intensifies.

• Schiff’s criticism of Bitcoin treasury stocks
• Rochard’s defense of financial engineering
• Regulatory challenges driving the trend
• Critics’ warnings of potential sell-offs
• Businesses outpacing individuals in Bitcoin acquisition

Peter Schiff, known for his unwavering support of gold and skepticism towards Bitcoin, has now set his sights on Bitcoin treasury stocks. In a recent statement, Schiff minced no words, saying,

“If you want to buy Bitcoin, then buy Bitcoin. If you want to invest in the stock market, buy a company with an actual business.”

His critique stems from a belief that investors should focus on companies with tangible business models rather than those that merely hold digital assets. Learn more about Schiff’s views on Bitcoin treasury stocks.

However, not everyone shares Schiff’s view. Pierre Rochard, CEO of The Bitcoin Bond Company, argues that Bitcoin-native firms add value through innovative financial engineering. Rochard explains,

“Tranching up bitcoin’s risk-return is a real business. Some people want less volatility, others want more. Financial engineering with securitization creates real value.”

In simpler terms, Rochard suggests that these firms break down Bitcoin’s potential gains and losses into smaller, manageable parts, allowing investors to tailor their exposure to Bitcoin’s volatility.

The rise of Bitcoin treasury companies like Twenty One Capital, Nakamoto Holdings, and Strive Asset Management is partly driven by regulatory challenges, particularly in regions like the UK. As direct Bitcoin investments become more difficult due to regulations limiting access to only accredited investors, these alternative vehicles are gaining traction. For instance, Twenty One Capital, launched by Tether, SoftBank, and Cantor Fitzgerald, offers investors a way to gain exposure to Bitcoin without directly owning it. The debate around these stocks continues on platforms like Reddit.

Despite their growing popularity, critics like Stack Hodler remain skeptical. Hodler warns,

“Many of these businesses will inevitably be forced to dump their stacks one day as the fast capital that buys them now realizes they’d be better off simply holding cold-stored Bitcoin.”

This fear of future sell-offs has led some to liken Bitcoin treasury stocks to “this cycle’s shitcoins,” questioning their long-term value and stability. For more on Schiff’s criticism, visit his Wikipedia page.

A River report provides insight into the broader trend of Bitcoin acquisition in 2025. The report reveals that businesses are now the top buyers of Bitcoin, adding 157,000 BTC to their holdings this year. In contrast, individual investors have sold off 247,000 BTC. MicroStrategy alone accounts for 77% of corporate Bitcoin growth, solidifying its position as a leader in the corporate buying trend. Despite these shifts, individuals still hold over $14 million worth of Bitcoin, representing more than 69% of the total circulating supply.

Stack Hodler, while critical of Bitcoin treasury companies, acknowledges the potential for businesses to bring lasting value to the Bitcoin network. He notes,

“Businesses that create economic value via products and services, and then store their profits in Bitcoin, are what will bring lasting value to the Bitcoin network.”

This perspective highlights the importance of companies that not only invest in Bitcoin but also generate real economic activity.

The debate over Bitcoin treasury stocks underscores broader discussions within the cryptocurrency community about the best ways to interact with Bitcoin. As regulatory landscapes shift and market dynamics evolve, these companies may play an increasingly significant role in shaping the future of Bitcoin investment. For a deeper dive into Schiff’s criticism of Bitcoin treasury stocks in 2025, see this analysis.

Key Questions and Takeaways

What is Peter Schiff’s view on Bitcoin treasury stocks?
Peter Schiff views Bitcoin treasury stocks as even more absurd than buying Bitcoin directly, advising investors to focus on companies with tangible business models.

How does Pierre Rochard defend Bitcoin treasury stocks?
Pierre Rochard argues that these stocks offer unique financial engineering, such as breaking down Bitcoin’s potential gains and losses into smaller, manageable parts, which creates real value for different investor needs.

Why are Bitcoin treasury companies gaining popularity?
Bitcoin treasury companies are gaining popularity due to regulatory challenges that limit direct Bitcoin investments, particularly in regions like the UK, and the need for alternative investment vehicles.

What are the criticisms of Bitcoin treasury companies?
Critics like Stack Hodler warn that these companies may dump their Bitcoin holdings in the future, likening them to “this cycle’s shitcoins” and questioning their long-term value.

Who are the top buyers of Bitcoin in 2025 according to the River report?
According to the River report, businesses are the top buyers of Bitcoin in 2025, with MicroStrategy leading the charge and accounting for 77% of corporate Bitcoin growth.