Dogecoin Founder Slams Strategy for Buying Bitcoin at Elevated Prices

Dogecoin co-founder Billy Markus has taken a public swipe at Strategy’s latest Bitcoin purchase, questioning the timing amid the company’s growing unrealized losses.

His remarks surfaced shortly after Strategy disclosed another major Bitcoin acquisition, reigniting debate around its aggressive accumulation strategy amid heightened market volatility.

Key Points

• Dogecoin co-founder Billy Markus criticized Strategy for buying Bitcoin at high prices amid market volatility.
• Strategy purchased 1,142 BTC for $90 million, raising total holdings to 714,644 BTC.
• The company faces over $5 billion in unrealized losses on its Bitcoin portfolio.
• Company leadership has reiterated that it has no plans to sell Bitcoin despite ongoing losses and market pressure.

Dogecoin Founder Reacts to High-Cost Bitcoin Buy

Markus, who posts under the name Shibetoshi Nakamoto on X, responded pointedly to Strategy’s announcement. In a sarcastic post, he said it “took talent” to buy Bitcoin at such elevated prices, given current market conditions.

it took talent to purchase bitcoin this expensively in this market https://t.co/6OkmAVmANM

— Shibetoshi Nakamoto (@BillyM2k) February 9, 2026

The comment quickly gained traction, coming on the heels of fresh statements from Strategy founder Michael Saylor. Specifically, Saylor confirmed that the company had completed another scheduled Bitcoin purchase, maintaining its long-standing accumulation approach despite recent price weakness.

Strategy Pushes Ahead With Bitcoin Accumulation

According to Saylor, Strategy acquired 1,142 Bitcoin for roughly $90 million, paying an average price of $78,815 per coin. The purchase brings the company’s total Bitcoin holdings to 714,644 BTC.

In total, Strategy has invested approximately $54.35 billion into Bitcoin, with a blended average acquisition price of about $76,056 per coin.

However, with Bitcoin now trading below that level, the company is facing mounting pressure. Indeed, data from DropsTab show that Strategy is currently sitting on unrealized losses of more than $5 billion.

Moreover, additional details disclosed in an SEC filing revealed that the purchase was funded through equity issuance. Strategy sold 616,715 MSTR shares last week, generating net proceeds of around $89.5 million.

The transaction occurred during a challenging reporting period for the firm. Strategy recorded a $12.4 billion loss in the fourth quarter of 2025, with company filings attributing part of the decline to unrealized digital asset losses under fair-value accounting rules.

Analysts and Markets React

Alongside Dogecoin founder, market analyst Maartunn has questioned the timing of the buy, noting that Strategy is already down roughly 10% on its most recent Bitcoin purchase. He further suggested that the company buy near the peak of last week’s price action.

Meanwhile, Strategy’s stock has reflected Bitcoin’s swings. According to Yahoo Finance, MSTR shares opened Monday at about $128, down more than 5% from the prior week’s close of $135.

This pullback followed a sharp rally late last week, when the stock surged as much as 26%. The move coincided with Bitcoin briefly rebounding above $70,000 from a recent low near $60,000. As Bitcoin struggled to hold those gains, renewed selling pressure emerged in Strategy’s shares.

At the time of writing, Bitcoin was trading around $69,505, down approximately 2.1% over the past 24 hours.

Leadership Downplays Liquidation Risk

Even as losses and volatility persist, Strategy’s leadership has sought to reassure investors. During a recent earnings call, CEO Phong Le said the company would only consider liquidating its Bitcoin holdings if prices fell to $8,000 and remained at that level for five consecutive years.

He explained that this scenario relates to obligations tied to Strategy’s convertible notes, which extend through 2032. In line with that view, both Le and Saylor reiterated that the company plans to continue accumulating Bitcoin despite the current market downturn.