All that we now have been listening to during the last two years is that MicroStrategy CEO Michael Saylor has been aggressively shopping for Bitcoins. Nonetheless, a opposite report means that Mr. Saylor is likely to be dumping his hundreds of Bitcoins at your again.
Bitcoin critic Mr. Whale printed an in depth report saying Saylor has been promoting his BTC for months whereas urging others to “take out double mortgages and go all-in”.
Mr. Whale digs into the previous of Michael Saylor whereby he compares his funding failures of the dot-com bubble of the late 90s. Citing an article from the Fortune Journal, Mr. Whale says that Saylor misplaced a whopping $13.5 billion again then, probably the most by any particular person. Mr. whale writes:
His funding failures got here from years of negligent accounting practices, fraud, and total horrible management. It’s clear his firms valuation is solely primarily based on his means to draw hype by participating in in style “traits”, which we noticed with their eagerness to be on the heart of the dot-com bubble, and now with the Bitcoin bubble.
Later in 2000, the U.S. SEC additionally accused him of fraud. Consequently, Saylor needed to pay $350,000 as a penalty to the SEC and $8.3 million to shareholders.
MicroStrategy Doesn’t Like Bitcoins, Insiders Promoting BTC
Mr. Whale digs into among the previous tweets by Michael Saylor whereby he has criticized Bitcoin. In a few of his very previous tweets, Saylor wrote that “Bitcoin’s days are numbered” and that it doesn’t maintain any intrinsic worth.
Mr. Whale accuses Saylor of making the Bitcoin hype and attracting buyers into shopping for BTC and his firm’s inventory. He additional provides that Michael Saylor and his firm’s insiders may dump the inventory at extraordinarily overvalued costs.
Mr. whale says that Saylor is taking part in theatrics together with his assuring phrases that he has “no plans to promote Bitcoin within the subsequent 100 years”. As an alternative, the Microstrategy CEO has an exit plan in place. Moreover, the whistleblower additionally accused Saylor of swaying individuals to purchase BTC in September 2021. Mr. Whale mentioned that it was an try from Saylor to collect sufficient liquidity to dump their very own holdings. The whistleblower writes:
Again in September 2021, I warned buyers that Michael Saylor was secretly dumping his shares. This week, it was confirmed to be true. Michael Saylor has transferred his BTC to a secondary handle that has been utilizing Coinbase and Okex to promote bitcoins.
He says that Saylor’s firm MicroStrategy bought $63 million price of BTC whereas asserting its buy. “Microstrategy has dumped over 8000+ Bitcoin. I anticipate them to dump extra within the coming months. Watch out on the market bulls,” he writes.