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Elizabeth Warren said Michael Bloomberg is betting he only needs “bags and bags of money” to win the Democratic nomination.

Speaking at a community event in Ankeny, Iowa, on Monday, Warren criticized the former New York mayor’s approach to the 2020 campaign. Bloomberg entered the race on Sunday, months later than most of the other candidates. He is spending $37 million so far on campaign advertising, $100 million on anti-Trump issue ads and another $15 million to $20 million on voter-registration efforts in key states. He is taking no outside donations.

Bloomberg hasn’t said how much he will devote to the campaign, but spokesman Jason Schechter said he will “spend what’s needed.”

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“His view is that he doesn’t need people who knock on doors,” Warren said. “He doesn’t need to go out and campaign, people. He doesn’t need volunteers. And if you get out and knock on 1,000 doors he’ll just spend another $37 million to flood the airwaves and that’s how he plans to buy a nomination in the Democratic Party. I think that is fundamentally wrong,” she said.

Bloomberg campaigned Monday in Norfolk, Virginia, visiting a coffee shop and holding a news conference.

Asked what his message was to fellow Democrats, he said, “They’ve got to worry about themselves. I’ve just got to worry about myself, and what I care about in America is getting rid of Donald Trump’’ and gun violence, climate change, and creating jobs.

Bloomberg is the founder and majority owner of Bloomberg LP, the parent company of Bloomberg News.