Bloomstran Says Saylor's Bitcoin Strategy Is 'Idiotic'
Analysis
Price Impact
LowVeteran investor christopher bloomstran critiques microstrategy's latest bitcoin acquisition strategy as 'idiotic' due to severe dilution. he argues mstr is selling its own shares at 82% of its bitcoin value to acquire more btc, implying an unsustainable financial maneuver. this is a critique of microstrategy's capital management, not a fundamental bearish signal for bitcoin itself.
Trustworthiness
HighChristopher bloomstran is a veteran value investor and president of semper augustus. his financial analysis regarding share dilution and valuation arbitrage carries significant weight from a traditional finance perspective.
Price Direction
NeutralWhile the critique generates negative sentiment around microstrategy's *method* of acquiring bitcoin, it does not fundamentally alter bitcoin's market demand, supply, or adoption narrative. the direct impact on btc's price action from this specific financial critique is expected to be minimal, potentially causing only minor fud for some retail investors.
Time Effect
ShortAny immediate sentiment reaction to this news would likely be short-lived. the long-term implications are primarily for microstrategy's shareholder value and capital structure rather than for bitcoin's price trajectory.
Original Article:
Article Content:
Cover image via www.freepik.com Read U.TODAY on Google News A dilutive move The latest buy Advertisement MicroStrategy’s relentless Bitcoin accumulation machine has hit a mathematical snag, according to veteran value investor Christopher Bloomstran. In a scathing critique posted to the X social media network, the Semper Augustus president argued the company’s latest moves have crossed the line into "idiotic," while acknowledging that it used to seem "smart." Selling shares (to suckers) when your equity market value traded at a large premium to your Bitcoin was smart, albeit immoral. Now selling shares to buy yet more Bitcoin, but with your market cap now at 82% of the market value of your Bitcoin is just plain desperate. And idiotic. https://t.co/Tw9obav24o HOT Stories Bitcoin Reserve Ends Up Being One of Biggest Fails of 2025 Crypto Market Prediction: Shiba Inu's (SHIB) First Big Test in 2026, Bitcoin (BTC) Enters Year-End Rally Again, XRP $2 Is Target Again 459 Billion SHIB Leaves Exchanges, World’s Highest IQ Holder Bullish on XRP in 2026, Bitcoin ETFs See Worst Performance Since Launch — Crypto News Digest Ripple's RLUSD Booms While XRP Underforms — Christopher Bloomstran (@ChrisBloomstran) December 30, 2025 A dilutive move One has to look at the mechanics of how MicroStrategy funds its purchases in order to grasp the core of Bloomstran's argument. Advertisement For much of the bull run, MSTR shares traded at a massive premium to the actual Bitcoin on its balance sheet. If the stock was trading at 2.0x the value of its Bitcoin, Saylor could sell overvalued equity to buy Bitcoin. This would create "free" value for shareholders. Bloomstran acknowledges this was financially savvy arbitrage despite viewing selling overvalued shares to retail investors as immoral. Advertisement You Might Also Like Sun, 12/28/2025 - 19:26 Did Saylor Just Signal Another Billion-Dollar Bitcoin Buy? By Alex Dovbnya Now, however, things have changed. He notes that MSTR’s market cap is now roughly 82% of the market value of its Bitcoin holdings. Issuing new shares to buy more assets is mathematically dilutive, which is the core issue here. He is arguing that Strategy is selling a dollar for 82 cents to buy more of the asset you already own. The latest buy The scathing critique comes after the juggernaut recently announced another massive purchase. As reported by U.Today , the firm recently acquired 1,229 BTC at roughly $88,568 per coin. This has pushed Strategy's average purchase price to nearly $75,000. #Bitcoin Price Prediction