Bitcoin appears yet again in danger as the prices are sliding down yet again. Moreover, the strong consolidation of around $39.500 raises some concerns, speculating of a drastic descending trend approaching very fast. On the other hand, the possibility of the largest BTC whale, MicroStratergy selling Bitcoins secretly emerges which may have fueled the price plunge.
It was back in September 2020 when MicroStratergy announced its first Bitcoin purchase. And the star crypto responded very positively and broke above $10,000 after struggling hard for a couple of months. Since then many factors led to the BTC price rally like Tesla’s acquisitions, Twitter holding BTC, etc and many more. Each time prices ranged high as the sentiments went pretty positive which led to increasing in demand.
Did MicroStratergy Dump Bitcoin?
Ever since the price faced a huge rejection after smashing new highs close to $70K, no significant upswing is recorded. The price kept on forming multiple fakeouts which eventually weakened the rally. And the reason is assumed to be a huge influx of 8000BTC dumped by MicroStrategy and its CEO Micheal Saylor.
Mr Whale, a BTC knocker recently published a report where-in he claims that MicroStrategy is dumping BTC for quite a long time, Secretly!
In the report, Mr Whale mentions the incapability of Mr Saylor to lead the company profitably. He says that Saylor was previously sued by the SEC of Fraud in the 2000s and he himself was a huge criticizer of Bitcoin earlier. His past tweets prove his disbelief in BTC and the value it holds.
Is Michael Saylor a Bitcoin Knocker?
Saylor always considered Bitcoin as an experiment and hence to be in the safe hands of SEC, he created a private entity MacroStratergy which just holds the accumulated BTCs. As it is a private entity, there is no requirement to legally file BTC sales. Therefore as to be Mr Whale, Saylor kept on promoting BTC and at the same time closed huge BTC positions too. The transfer of BTC to a secondary address which is of Coinbase and Okex raised speculation about the dump.
Source: Mr Whale
Therefore, Mr Whale urged the traders to act wisely as he expects Saylor to dump more BTCs after dumping more than 8000+ BTCs. Interestingly, the insiders are also dumping MicroStratergy shares at the same time which raises speculation of the company is not happy with the holdings. And hence if this continues, Bitcoin’s (BTC) price may face some huge rejections much below $30,000 in the coming months.