In 1999, his convertible bonds triggered a catastrophic dilution, wiping out shareholders. Now, with Bitcoin, the same signs are flashing red. The hype is fading, order books are thinning, and there are whispers of manipulation. Pushing for a Bitcoin Strategic Reserve is nothing short of financial lunacy—a bigger ripoff than USAID ever was. Bitcoin was supposed to be the escape from manipulation, but it’s been captured, just like everything else.
In Dec 1999 Michael Saylor sold convertible bonds with maturity in 2005
When $MSTR's stock price collapsed from $333 only 3 months later, the bonds converted into shares. The dilution caused a rapid crash to 0.45¢
There were rumors the toxic bond purchasers were short the stock https://t.co/oI76ISpMjM pic.twitter.com/luGHUNQEr9
— Financelot (@FinanceLancelot) February 7, 2025
Bitcoin looks ready to roll over.
$80k First Target pic.twitter.com/Z1LKyRz9tK
— Rock Bottom Entries (@RockBtmEntries) February 6, 2025
This is a great article. More prominent voices need to speak out against creating a Bitcoin Strategic Reserve. This would be a bigger taxpayer ripoff than USAID.https://t.co/dHHST3AodP
— Peter Schiff (@PeterSchiff) February 7, 2025
$BTC Spot orderbooks look bearish without any willing buyers and you guys expect new aths soon? pic.twitter.com/TX6ZP8DJTP
— exitpump (@exitpumpBTC) February 6, 2025
Americans might not be ready for this yet, but Bitcoin is fake too. It was captured just like everything else.
— Steve Patterson (@steveinpursuit) February 6, 2025