MicroStrategy CEO Michael Saylor may be fronting about his passion for holding Bitcoin. According to Bitcoin critic Mr. Whale, Saylor has been secretly selling off his Bitcoin stash while encouraging others to go all in and buy.
Critic Compares Saylor’s Bitcoin Campaign to the Dot-Com Bubble
Over the last two years, Saylor has been in public for aggressively buying Bitcoin. His company MicroStrategy has reportedly collected 129,218 Bitcoin worth around $6 billion. The intelligence software company is the largest publicly traded Bitcoin holding firm.
The MicroStrategy CEO has expressed on many occasions that Bitcoin is the future currency that the smart need to stack up. In his own words, Saylor said he had “no plans to sell Bitcoin in the next 100 years.” If the allegations of Mr. Whale are true that Saylor has dumped thousands of his BTC holding, the CEO may earn the title of the biggest liar in the industry.
Mr. Whale backs up his theory by first presenting Saylor’s failed investment background during the dot-com bubble of the late 1990s. Fortune Magazine reported that Michael Saylor lost $13.5 billion at the time.
Mr. Whale went in on MicroStrategy CEO Michael Saylor, stating that his investment failures come from years of negligent accounting practices, fraud, and generally bad leadership. The critic continued that pro-Bitcoin CEO Michael Saylor uses the strategy of attracting hype by joining popular trends to boost his company’s valuation. The Bitcoin bubble is currently similar to the dot-com bubble, which ended negatively for Michael Saylor.
Saylor’s Bitcoin Campaign is Theatrics to Dump His Holdings
Comparably to the Bitcoin bubble, Michael Saylor grew his company’s stock price from $30 to $3000 in that period. However, this price plummeted after authorities asked Saylor to file the profit data.
Mr. Whale reminds the public that the U.S. financial watchdog SEC even took in the pro-Bitcoin CEO Saylor for questioning and branded him a fraud. He ended up paying $350,000 to the SEC and $8.3 million to shareholders. Saylor’s Bitcoin campaign, as per the critic, is only theatrics to attract the masses to the leading cryptocurrency so that he can dump off his holdings.
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