On Monday, December 29, 2025, MicroStrategy (now rebranded as Strategy) announced its latest Bitcoin acquisition, purchasing 1,229 BTC for approximately $109 million at an average price of $88,568 per coin. This addition brings the company's total Bitcoin holdings to 672,497 BTC, representing 3.202% of the total Bitcoin supply, at a cumulative cost of $50.44 billion with an average purchase price of $74,997.
Despite sitting on over $8 billion in unrealized profits (down from a peak of $22 billion when Bitcoin reached $126,000 in October), the company's aggressive accumulation strategy has drawn sharp criticism from prominent financial figures. World-renowned economist Peter Schiff blasted the move shortly after the announcement, pointing out that Strategy's five-year Bitcoin investment has yielded only a 16% total profit, averaging about 3% annually.
Schiff argued that the company would have been better off investing in any other asset, noting that gold and silver have reached new all-time highs this year while Bitcoin has struggled. His criticism centers on what he considers subpar returns despite the massive $50+ billion investment.
Veteran value investor Christopher Bloomstran offered even harsher criticism, calling Strategy's latest moves "idiotic" in a scathing social media post. Bloomstran, president of Semper Augustus, explained that while selling overvalued shares to buy Bitcoin during the bull run was financially savvy (though "immoral"), the current strategy is mathematically flawed.
The core of Bloomstran's argument focuses on the mechanics of how Strategy funds its purchases. He notes that MSTR's market capitalization now stands at roughly 82% of the market value of its Bitcoin holdings, meaning the company is effectively "selling a dollar for 82 cents" by issuing new shares to buy more of an asset it already owns in abundance. This makes the move mathematically dilutive to shareholders rather than value-creating.
