Dogecoin Founder Mocks Strategy Bitcoin Purchase, “Worst Timing”
Billy Markus, co-founder of Dogecoin (DOGE), has sharply criticized Strategy’s investment move, calling it “the worst timing,” after the firm carried out a large-scale Bitcoin (BTC) purchase during a price surge.
According to cryptocurrency outlet Cointelegraph on February 10 (local time), Strategy recently acquired an additional 1,142 BTC for approximately $90 million. The purchases were concentrated between February 2 and 8, with an average acquisition price of $78,815 per BTC. However, immediately after the purchase announcement, Bitcoin’s price slid to around $69,000, leaving Strategy unable to avoid immediate unrealized losses.
Markus strongly criticized this investment approach via his X (formerly Twitter) account. He mocked Strategy for positioning itself as an “expert at buying the top,” suggesting the firm consistently absorbs supply at market peaks. In particular, he emphasized that pouring massive capital in when Bitcoin prices are at their highest ultimately increases downside pressure across the market and fuels anxiety among investors.
Michael Saylor, chairman of Strategy’s board, announced that the company now holds a total of 714,644 BTC, including the latest purchase. Strategy has invested a cumulative $54.35 billion to amass Bitcoin, with an overall average purchase price of $76,056 per BTC. Despite short-term price corrections, Saylor has remained firm in his stance that Bitcoin will continue to be held as a core corporate asset.
The market has echoed Markus’s criticism, voicing concerns over Strategy’s aggressive fundraising methods. As funds raised through stock issuance repeatedly translate into losses shortly after purchases, doubts are growing about the company’s financial soundness. Markus has repeatedly argued that Strategy’s behavior exemplifies FOMO-driven investing, which undermines the healthy growth of the cryptocurrency market.
Despite intense external criticism, Strategy appears unlikely to halt its push for further Bitcoin accumulation. As the clash intensifies between Saylor’s conviction in long-term value appreciation and Markus’s characterization of the strategy as reckless gambling, Strategy’s Bitcoin standard approach has reached a critical test.
*Disclaimer: This article is for investment reference only, and the publisher bears no responsibility for any investment losses based on it. The content should be interpreted solely for informational purposes.*
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