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Alex Dovbnya

Christopher Bloomstran Slams MicroStrategy's Bitcoin Equity Issuance as Mathematically Dilutive

On December 30, 2025, value investor Christopher Bloomstran criticized MicroStrategy's latest Bitcoin funding approach, arguing on X that the company has shifted from a once "smart" arbitrage to what he calls an "idiotic" strategy. He claims issuing new shares when MicroStrategy's market cap is about 82% of the value of its Bitcoin holdings now dilutes shareholders as the firm continues large BTC purchases, including a recent 1,229 BTC buy at roughly $88,568 per coin.
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