TL; DR Breakdown
- Reports claim the Microstrategy CEO has plans to dump BTC holdings
- Bitcoin critic points to Saylors failed investment in the past
- Mr. Whale unearths allegations against Michael Saylor
Over the last two years, Michael Saylor and Microstrategy have entered the Bitcoin market and held it spellbound. This is due to the massive amount of digital assets that the company’s CEO has purchased in two years. This has brought him to the limelight while seeing many followers on social media. However, a Bitcoin critic has alerted the public over a possible sale of the Microstrategy Bitcoin stash behind everybody’s back.
Microstrategy CEO had a failed investment in the past
In the report by Mr. Whale, he claims that the Microstrategy boss has had an accumulation of shady dealings in the past. He noted that while he urges everyone to enter the Bitcoin market, by all means, he has been dumping his assets during the period. Talking about his shady dealings in the past, Mr. Whale talked about the dot-com bubble, which spanned five years starting from 1995.
In his statement, the Bitcoin critic noted that the investment failed during the period causing Saylor to lose $13.5 billion across the said period. Me Whale pointed out that Saylor has attracted investors and the limelight on his company by jumping on popular trends, which happened with the dot-com and Bitcoin trends. He mentioned that the CEO’s failed investment profile resulted from negligence in accounting practices and bad leadership, among other things.
Mr. Whale unearths allegations against Saylor
Mr. Whale also mentioned that Michael Saylor rode on the dot-com hype to float his company and push his stock price to $3000 from $30 at the period. He mentioned that the stock price saw a massive decline after the authorities forced the company to file its profit data which saw a huge amount of profits gone. The SEC took Saylor in for questioning and branded him a fraud during its investigations. Mr. Whale pointed out that Saylor had to pay fines to investors and the SEC, going to the tune of a cumulative $8.6 million at the time.
The SEC at the time mentioned that Microstrategy has been losing funds and staying afloat with investors’ money while claiming to be making profits. The Bitcoin critic also claimed that Saylor uses the Bitcoin hype to generate attention and investors. This claim was buttressed after he posted old tweets where Saylor rubbished Bitcoin.
He pointed out that the Microstrategy CEO went from bashing Bitcoin to tipping it to reach $1 million, which is very shady. Talking about his exit strategy, Mr. Whale mentioned that he plans to float a new company and pay directors using Bitcoin. The Bitcoin critic mentioned that Saylor wants to save face, going through that route instead of selling his Bitcoin with the SEC’s notice. He also mentioned that the former would save him from being a villain in every trader’s story.