Schiff and Pompliano Clash Over Burst Bitcoin Bubble and Saylor’s Financing

The Bitcoin-versus-gold dispute centers on their merits as stores of value. Gold advocate and economist Peter Schiff argues that Bitcoin lacks intrinsic value, while ProCap Financial Chairman Anthony Pompliano emphasizes its censorship-resistant design. The dispute also extends to Strategy, formerly MicroStrategy, and its use of equity, debt and preferred shares to finance Bitcoin purchases, raising questions about shareholder dilution and corporate financial risk.

The two debated on Fox Business on June 15, 2026. Pompliano said Bitcoin had delivered a compound annual growth rate of about 55% to 60% over nearly 10 years, compared with roughly 12% for gold. Schiff said the bubble had burst and accused Michael Saylor’s Strategy of sacrificing common shareholders’ value by issuing preferred shares such as STRC at yields of up to 11.5%. Strategy also spent about $100 million that day to buy 1,587 Bitcoin.