Jason Calacanis, one of the world's most famous angel investors, is back again I took aim At business intelligence company MicroStrategy.

“MSTR slowed their Bitcoin purchases...Bitcoin declined...and their stocks declined,” he noted.

Calacanis, known for his early bets on Uber, believes investors may no longer be willing to lend MicroStrategy's Michael Saylor billions if the trend continues.

“It's as if these things are somehow connected... I wonder if people will continue to lend their billions to buy Bitcoin if this continues,” he said.

Calacanis also claimed that he had previously invited Saylor to his podcast. However, the billionaire founder prevented him from accepting the invitation.

While Calacanis is not opposed to owning Bitcoin, he argues that it is unreasonable to overpay for MSTR stock, which is trading at a significant premium to net asset value (NAV).

MicroStrategy (MSTR) stock is now down 45% from its record high of $543, set on November 21.

On Monday, MSTR stock fell more than 8% on Monday. This came after the company announced its eighth consecutive weekly purchase of Bitcoin. This time it was $209 millionwhich is significantly lower than the company's previous investments in Bitcoin. Some media outlets have not ignored this fact, with Barron's noting in his headline that MicroStrategy is buying smaller amounts of Bitcoin.

Despite the recent price decline, MSTR stock is still up over 340% year to date, significantly outperforming Bitcoin.