Sunday 24/04/2022 15:08 from Echo BTC
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In an April 22 Medium article, Michael Saylor, founder of Microstrategy and bitcoin guru, alleges intentional deception and misinformation about his company’s bitcoin investments.
- Among bitcoin investors and supporters worldwide, Microstrategy founder Michael Saylor is considered an absolute bitcoin maximalist. According to https://www.buybitcoinworldwide.com/treasuries/ his company currently owns around 129,000 Bitcoins (BTC).
- A critical article on independent publishing platform Medium.com now sheds new light on the actual trading conduct of Bitcoin’s largest institutional holder.
- Written by popular crypto analyst Mr. Whale, the article calls Michael Saylor’s investment history criminal, as Saylor was charged by the SEC with intentional fraud in the early 2000s during the dotcom bubble. According to the SEC, the company’s balance sheets had glaring inconsistencies. The companies’ subsequent revised balance sheets sent shares of Microstrategy down 99.9 percentage points, earning Saylor the title of biggest loser in the dotcom bubble.
- The Medium article then highlights the company founder’s early tweets, which attest to Michael Saylor’s negative view of Bitcoin.
- According to Whale, Saylor’s attitude towards bitcoin only changed after he discovered the hype potential behind aggressively promoted bitcoin investments. Since then, Saylor has been trying to persuade investors to make further investments in Bitcoin through targeted tweets about alleged Bitcoin purchases.
- According to the author of the article, the results of a more detailed analysis of all Bitcoin transactions by the company Microstrategy give serious indications that Saylor transferred his Bitcoin holdings to a processor (Microstrategy LLC), which has a different legal form, in order to avoid the SEC reporting requirement for the future to avoid bitcoin sales.
- Insider selling by Microstrategy executives and directors would also reinforce suspicions that the executives themselves have low confidence in the company’s future.
- The article concludes that Microstrategy has traded $315 million worth of Bitcoin on Coinbase crypto exchanges in the past few months and OKex sold.
- Since the publication of the article, the conclusions and possible explanations for the reported Bitcoin sales have been hotly debated in the crypto community. According to voices from the Twitter community, it is conceivable that Microstrategy LLC sold Bitcoin to the Luna Foundation.
- Over the past few weeks, the Luna Foundation has repeatedly been a heavy buyer of Bitcoin appeared.
- It remains to be seen whether Michael Saylor will provide a reason for the denounced Bitcoin outflows and refute the allegation, or whether there may be other justifications for the inconsistencies identified by Mr. Whale.
Bitcoin analyst post claims Michael Saylor is an investment scammer first appeared on BTC-ECHO.
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