Peter Schiff, known for his outspoken criticism of Bitcoin, has struck again. This time, he took aim at Tom Lee from Fundstrat after Lee posted a selfie with Michael Saylor of Strategy, captioning it with “Bitcoin and Ethereum are friends.”
However, Schiff dismissed this notion by labeling them as “partners in crime,” which reflects his disdain for both cryptocurrencies.
This comment came right on the heels of BitMine’s announcement that they acquired 46,255 ETH from BitGo—worth approximately $201 million. This acquisition boosts their total holdings to 2,126,018 ETH valued at around $9.24 billion.
Partners in crime.
— Peter Schiff (@PeterSchiff) September 12, 2025
On the Bitcoin front, Saylor’s Strategy continues to stand out with an impressive portfolio that includes about 638,460 BTC—valued at $73.55 billion based on current prices. With an average purchase price of $73,880 per BTC, this positions Strategy nearly 56% into profit.
Add to this the fact that MicroStrategy (MSTR) boasts a diluted market capitalization of $105 billion.
Controversies in Cryptocurrency
The timing of Schiff’s remark aligns perfectly with his ongoing critique against crypto fervor; however, this time he targeted two prominent figures representing the largest cryptocurrencies available today.
Saylor has integrated Bitcoin into corporate finances while Lee emphasizes Ethereum’s extensive financial capabilities. Together they presented an irresistible opportunity for Schiff’s latest attack on cryptocurrency enthusiasts.
This particular post is noteworthy as Lee has faced backlash for shifting focus towards Ethereum through his involvement with BitMine Technologies—a company initially centered around Bitcoin until recent discussions surrounding the so-called “Ethereum Treasury.”