Bloomberg insisted he’d like to debate if the rules allowed. But the billionaire, a latecomer to the Democratic primary, reasoned it is inappropriate for someone of his wealth to ask supporters for cash.

“It’s up to the Democratic Party. They have a rule that you cannot participate in the debates unless you have a few hundred thousand donors,” he told POLITICO after the campaign event Tuesday. “I don’t take any money from anybody else. I fund my campaign myself.”

Accepting money, he added, would undermine his independence. “I listen to people, but I don’t let people buy me,” he said.

The Democratic National Committee has gradually increased its debate thresholds, with the goal of removing candidates with little or no chance of winning the nomination. To get into next week’s faceoff in Iowa, candidates need 225,000 donors and at least 5 percent support in four DNC-approved polls.

“I listen to people, but I don’t let people buy me."

Bloomberg has satisfied the polling requirement but not the donor one. He could likely get there by spending millions on Facebook ads seeking $1 or $2 donations — a tack fellow billionaire Tom Steyer has taken.

But Bloomberg won't do it — and his Democratic competitors are calling him out.

“When you have that much money, you have incredible power that comes with it. With that power, you’re able to shape the outcomes to tilt to your advantage,” Faiz Shakir, campaign manager for Bernie Sanders, said in an interview.

“And that’s what he’s trying to do with this election, is say: ‘I’m going to swoop in late. I’m not going to do grassroots campaigning. I’m not going to come to these debates. I’m not going to do town halls. I’m not going to answer questions. What I am going to do is try to buy this damn thing,’” Shakir added.

The criticism of Bloomberg's no-debate posture comes as he ticks upward in polls — support owed in large part to his record-spending TV ad barrage. While Bloomberg has made scores of stops across Super Tuesday and other later-voting states, the ubiquity of his ads — and rivals’ inability to directly confront his arm's-length campaign — is revealing some early risks of his unprecedented strategy.

“He is skipping the democracy part of this,” Elizabeth Warren told MSNBC’s Rachel Maddow on Monday night.

Steyer, who raised small-dollar contributions to qualify for the debate but risks missing the January stage because of his low polling numbers, agreed.

"Any person who wants to be president should be willing to debate their ideas in front of the American people and participate in the grassroots work of meeting and listening to voters in Iowa, New Hampshire, Nevada and South Carolina,” Steyer spokesman Benjamin Gerdes said.

Bloomberg has always self-funded his campaigns for the same reasons he laid out Tuesday. In this case, the strategy comes with an additional benefit: inoculating him from televised attacks from opponents and risking a rhetorical misstep.

His adherence to the DNC’s edicts is itself an act of defiance by “someone that doesn’t have to play by those rules,” said Colin Strother, a Democratic campaign consultant in Texas. Bloomberg is spending tens of millions of dollars on TV ads in the Lone Star State and opening an unprecedented number of field offices there.

“If I had a candidate with unlimited funds, I would tell them, 'Don’t waste your time worrying about the debates,'” Strother added. “If you can bootstrap it and finance it OK on your own, I think you can be fine. And there’s nothing the DNC can do about that.”

Indeed, the ads allow Bloomberg to convey his message and shape his image without the counterarguments of his opponents. His aides suggested in interviews that participating in debates would give rivals a forum to go after Bloomberg's wealth, his record on law enforcement as New York mayor, and his financial support and endorsements for Republicans over the years.

Bradley Tusk, who advised Bloomberg's 2009 mayoral campaign, pointed out that he debated in his three local races — and won. Still, Tusk acknowledged Bloomberg would face incoming in a debate, particularly from the left flank of the party keen on vilifying wealth.

“He will be a target if they feel he’s a real threat — if their polling is telling them that,” Tusk said. “I would like nothing more than for Mike to be a target because it shows that he’s moving up.”

Bloomberg's campaign is leaving nothing to chance when it comes to his no-donations policy. An aide, for instance, clarified that campaign merchandise is priced at cost to ensure there are no profits, which would constitute a contribution.

“Once you start with $1, the next day it’s $2, and the next day it’s $50, and the next day it’s somebody with $10,000," Bloomberg said Tuesday. "You shouldn’t go down that path if you’re in my situation.”