Christopher Bloomstran has criticized MicroStrategy's recent Bitcoin purchase strategy, labeling it as "stupid beyond belief." The value investor expressed his views on X, highlighting a shift from what he considered a "clever" strategy to a more desperate approach. Bloomstran pointed out that MicroStrategy's stock value now stands at 82% of its Bitcoin holdings' value, contrasting with earlier times when selling stock to buy Bitcoin was more advantageous. MicroStrategy recently acquired 1,229 Bitcoin at an average price of $88,568, raising its overall average purchase price to nearly $75,000 per Bitcoin. This move has sparked debate within the market about the prudence of corporate Bitcoin strategies, especially as the company's stock valuation dynamics change.
Bloomstran Criticizes MicroStrategy's Bitcoin Accumulation Strategy
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