Michael Saylor, president of MicroStrategy, a leading business intelligence company and a major Bitcoin holder, issued a very important warning to the Bitcoin community in a recent statement. Saylor’s security team is actively combating artificial intelligence (AI)-generated deepfake videos promoting Bitcoin scams. Despite their best efforts, scammers continue to create fake AI-generated YouTube videos at an alarming rate.
Saylor warns against Bitcoin scams
Saylor took to social media, specifically X (formerly Twitter), to voice his concerns and warn the crypto community about the proliferation of fake podcasts. These podcasts encourage users to scan a QR and send Bitcoin with the promise of receiving twice the amount back. These deceptive tactics are a common tactic used by scammers to exploit unsuspecting victims.
Emphasizing the seriousness of the problem, Saylor announced that his team removes approximately 80 fake YouTube videos created by artificial intelligence every day. Despite their efforts, scammers continually create more, putting the community at risk. Saylor emphasizes that there is no risk-free method to double Bitcoin and explains that MicroStrategy does not give away barcode scanning. He urges BTC holders to be careful, verify information and avoid blindly trusting such schemes.
MicroStrategy chief sells heavily ahead of ETF approval
Separately, staunch Bitcoin supporter Michael Saylor made a strategic move by selling millions of dollars worth of MicroStrategy (MSTR) stock just ahead of the approval of spot Bitcoin ETFs. The sales, ranging from 3,882 to 5,000 shares, took place between January 2 and January 10, generating Saylor over $20 million in proceeds. A spokesperson from MicroStrategy explained that these share sales were part of a pre-planned strategy and were not directly linked to the approval of spot Bitcoin ETFs. The ongoing plan involves selling up to 5,000 shares per day through April 26, 2024, and aims to sell a total of 400,000 shares by that date.
As the crypto world faces evolving challenges, Saylor’s warning about AI-generated scams serves as a reminder to the community to remain vigilant and adopt best practices. Simultaneously, Saylor’s strategic share sales underscore the dynamic nature of the market; major players are making strategic moves in anticipation of regulatory developments such as the approval of spot Bitcoin ETFs.
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