KOL Mr. Wal suspects that MicroStrategy operators plan to pump and dump Bitcoin

After several rounds of accumulation, MicroStrategy became the largest Bitcoin HODLer as a public company a few months ago. In fact, according to Bitcoin Treasuries, MicroStrategy holds 108,991 BTC at the time of writing.

In contrast, filings with the SEC late last month showed “many changes in ownership of the beneficiary securities” by top executives at MicroStrategy. As reported by Bloomberg, the company’s CFO and CTO each made $ 7 million during last month’s sell-off.

Overall, the top 8 operators’ profit taking is estimated to be about $ 175 million in just one year.

The timing is exciting, especially as Bitcoin advocate Michael Saylor continues to promote the leading cryptocurrency on his social media.

The source: Trade view

In the midst of last month’s outstanding rally, CFO Phong Le and CTO Lang have Timothy Edwin allegedly have exercised their stock options. A similar trend emerged in April: Just before Bitcoin hit its ATH in April, Saylor announced:

“MicroStrategy’s board of directors is now paid in BTC.”

This report caught the attention of KOL Mr. Wal. He claims that Saylor and the operators are following a classic pump and dump strategy.

It is worth noting, however, that the CEO himself has not yet sold any stakes.

According to KOL, Saylor is in fact transferring MicroStrategy’s BTC to a “hidden” limited liability company (LLC) in an attempt to evade public scrutiny. Brothers tweets:

“Michael Saylor urged people to buy BTC for $ 51,000. He also transferred all of MicroStrategy’s BTC to a seedy LLC, meaning he can now sell without filing a notice with the SEC. I suspect that Saylor gives his BTC to the people he wants to attract. “

SEC data too confirm Saylor transferred 50,000 Class A shares of the company to Alcantara LLC late last year. The transaction has been classified as a “charitable gift for nothing”.

From 2020, Saylor will actively invest in BTC as “primary reserve assets in the state treasury”. Bitcoin now makes up a large chunk of the company’s capitalization, to the point where the company’s price line is trending like BTC.

While both rose sharply in the last year, has the focus changed?

The source: Trade view

Previously was Saylor explain he is a bitcoin holder and “will not sell” even during a downtrend. However, it seems that the company’s top executives disagree to hold on on the basis of “debt”. Perhaps they think the fair value of BTC is less than its current market value.

Or the cause could also be the expectation of a consolidation at the beginning of the last quarter of 2021. You also have to ask yourself whether Michael Saylor is really a proponent of “one-on-one”. “As he said or not? For example, tweets from 2013 shows that Michael wasn’t always pro-crypto.

“The remaining bitcoin time is counted day by day. It seems only a matter of time before it suffers the same fate as online gambling. “

For now, however, Saylor appears happy with the company’s exposure to Bitcoin. In fact, he recently tweeted again that he was delighted to have chosen Bitcoin over gold.

I would have chosen #Gold Instead of #Bitcoin it would have been a billion dollar mistake last year. It won’t help diagnose the problem if you don’t choose the right solution. pic.twitter.com/UrYksm7X6w

– Michael Saylor⚡️ (@michael_saylor) September 5, 2021

“If I had chosen gold over Bitcoin last year, it would have been a billion dollar mistake. Choosing the wrong solution will not help diagnose the problem. “

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