Adam, who arrived from Rangers for 500,000 pounds in August 2009, has been in inspired form for Blackpool this season and has also attracted interest from Aston Villa.
GEAR:Up to £15 off Premier League kits with Kitbag. Free delivery on orders over £50
After days of claim and counter-claim by the three clubs involved he put in a transfer request on Monday.
Holloway, trying to prepare his team for the club's biggest home game for 40 years when they face Premier League leaders Manchester United on Tuesday, was angry and frustrated when asked about the issue.
"Yes it's true," he told a televised news conference.
"I expect it, because Liverpool are a massive club but until they come up with an offer that we would accept then there's no story. He can't dictate it, he's too long a contract.
"It won't be accepted. Four million pounds is not acceptable to us. You either make an offer that is acceptable or you go away. I don't want to stand in his way, but they have to put up or shut up.
"If an amount of money comes in that we want to sell Charlie for we would do it. Other than that he's got to keep going and we've got to keep playing.
"As I rate him, I think they are mad not to buy him off us, I think he could replace Xabi Alonso, which they haven't done yet.
"They haven't got that passer, Charlie's their man. If I was the Liverpool manager I'd have him in my team by now, I would have bought him. And I would have come up with the right amount of money.
"If he plays well against Manchester United and we get the shock of all shocks then a lot more people might like him."
Earlier on Monday, Liverpool manager Kenny Dalglish declined to answer questions about Adam, saying he wanted to be respectful to other clubs and do things "the Liverpool way."
