Joe Weisenthal Mocks Bitcoin Gains

Joe Weisenthal, co-host of Bloomberg’s “Odd Lots” podcast, recently mocked Strategy’s Bitcoin gains on social media, questioning the worth of years of Bitcoin investment.

> “Imagine investing in Bitcoin for years and years and you’re only up like 30%?” — Joe Weisenthal

Following its latest $15 million Bitcoin purchase, Strategy’s total holdings have approached 500,000 BTC, with an average purchase price rising to $62,000.

Weisenthal’s comments have sparked backlash from parts of the Bitcoin community. Supporters emphasize that the company’s stock has surged nearly 2,200% since former CEO Michael Saylor implemented the innovative Bitcoin strategy.

Jason Calacanis, an angel investor and noted critic of Strategy, suggested that the company’s average price could eventually align with its current price if purchases continue.

Earlier today, Strategy announced plans to fund additional Bitcoin purchases by issuing 4 million shares of perpetual preferred stock.