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Peter Schiff claims that Michael Saylor has defrauded investors, describing Strategy as a "fragile financial institution" on the verge of collapse.
With the collapse of the preferred stock of STRC, Schiff pointed out that retirees who bought the shares last month have already lost 15% of their capital.
He believes that these buyers have an "impeccable lawsuit" because Saylor heavily promoted the return without properly disclosing the significant risks.
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