Economist Peter Schiff warned Thursday of a severe bear market for Michael Saylor-led Strategy Inc. (NASDAQ: MSTR) and companies mimicking its Bitcoin (CRYPTO: BTC) treasury play. In an X post, Schiff questioned the viability of companies with large Bitcoin reserves. “While so many companies have been busy copying Saylor’s harebrained business strategy, few have noticed that MSTR is down 45% from its Nov. 2024 high,” Schiff said.