In recent years, the crypto community have only heard that the CEO of MicroStrategy, Michael Saylor, is actively purchasing Bitcoins. However, a recent report claims that Mr. Saylor may be unloading thousands of Bitcoins secretly. A report by BTC critic Mr. Whale claims that Saylor had been selling his crypto holdings for months despite advising others to “go all-in” on Bitcoin.
Saylor Selling His Bitcoin While Misleading The Crypto Community
In the report, the whistleblower known as Mr. Whale delves into the background of Michael Saylor, comparing his investing mistakes during the dot-com boom of the 1990sAccording to a Fortune Magazine story, Mr. Whale claims that the crypto enthusiast lost over 3.5 billion then, the largest single loss suffered by anyone. Mr. Whale posted that:
“Saylor’s investment problems were the product of decades of careless accounting methods, fraud, and generally poor leadership on his part. It’s evident that his company’s worth is purely predicated on his capacity to create excitement by participating in current “trends,” as you witnessed with the company’s enthusiasm with the dot-com bubble. Now, it has shifted its attention to Bitcoin.”
In 2000, the crypto supporter was accused by the Securities and Exchange Commission (SEC) of the United States of fraud. Due to this, Saylor was forced to give a $350,000 fine to the Commission and $8.3 million in dividends to stockholders.
Insiders In Microstrategy Selling BTC
In this tweet, Mr. Whale delves into some old tweets by Michael Saylor, in which he had opposed Bitcoin. As stated in several tweets, Saylor argued that “Bitcoin’s time is almost up” and that the cryptocurrency has no fundamental worth. Mr. Whale accused the BTC supporter of igniting the Bitcoin craze and luring investors into purchasing it as well as shares of his company. He says that the company may decide to sell the shares at a time when it is significantly overpriced.
As the whistleblower points out, Saylor is being persuasive by asserting that he has “no intentions to sell his BTC anytime soon.” Instead, the CEO of Microstrategy has put in place a succession plan. Furthermore, the whistleblower said that Saylor persuaded individuals to purchase Bitcoin last year to amass adequate liquidity to sell their investments. The whistleblower noted that;
“Saylor was privately selling his shares, and I alerted investors about it back in 2021. This information was verified this week after recent reports showed that Saylor had moved his BTC to another wallet address, which has been used to sell the crypto on Okex and Coinbase in the past.”
Furthermore, he claims that Saylor’s firm, MicroStrategy, traded BTC worth over $63 million at the time of the announcement of the acquisition. ” Thousands of Bitcoin have been transferred by MicroStrategy. I anticipate that they will dump much more BTC in the following months. B e cautious out there, investors,” he finally added.