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.