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Hey fellow traders, we are back again with another Araujo Report I was missing it too much and had to spend the extra time working on a full report for you. While I was doing some analysis this week I came across some interesting things. First I want to say that I am always keeping an eye on Bitcoin and reading articles on it because I want to get to the bottom of why it exists. I have had a funny feeling that it was not to be trusted and I think this week my feelings on it have been solidified. Let me share with you what I found.
Now we know a big advocate of Bitcoin is a guy by the name of Michael Saylor. He is heavily invested in Bitcoin and obviously wants to see it go higher. We’ve known for some time now that the price of Bitcoin is heavily manipulated by the banks and we’ve seen this play out several times on the charts. So let’s begin with a tweet from him regarding a conversation with Tucker Carlson.
Ask yourself, from what you know to be true about Bitcoin; is the statement he wrote true? Is Bitcoin free from intervention on any level? The answer is NO.
Now let’s turn to the company that Michael Saylor is chairman and CEO of MicroStrategy INC (MSTR) according to Wikipedia, a source known for its mistruths they say “Saylor, who controls 70% of MicroStrategy's shares” but when we look at yahoo.com we see this.
So which is it? And if 73% of shares are held by institutions - which ones are they?
That’s right the usual suspects Vanguard and Blackrock. So essentially Vanguard owns Michael Saylor because they control “his” company. He essentially works for them. So whatever he says is sponsored by Vanguard.
Then Michael Saylor comes out and retweets this.
Low and behold Mr. Jamie Dimon himself from JPMorgan. Do we need to say anymore?
I think it’s clear that as we see downtrends form on the Bitcoin chart, these people controlled by Vanguard are telling us that Bitcoin is going upwards. Now can it go upwards from here? Sure anything is possible but it is NOT likely based on current chart dynamics.