Let’s Get Real About Bitcoin
Bitcoin was pitched as the future—decentralized, deflationary, the antidote to fiat. But that vision is a carefully curated illusion. Behind the scenes, a small group of players are manipulating the narrative and fueling a trillion-dollar illusion. Let’s pull back the curtain.
Bitcoin in El Salvador: Adoption or Performance?
A Marketing Trick in Disguise
Remember 2021? El Salvador made headlines by declaring the digital asset as legal tender. But nearly all of its 6,114 coins didn’t come from open-market buys—6,111 were moved from Bitfinex and Tether wallets. It wasn’t grassroots—it was PR.
The Chivo Wallet Failure
The Chivo Wallet, meant to give Salvadorans access to crypto, flopped. Usage dropped by 98.9%. Trust was low. Infrastructure was broken. The experiment collapsed quickly.
Who Benefited?
Why put on this display? Simple. Tether wanted legitimacy. Bukele needed attention. Bitfinex needed liquidity. Everyone gained—except everyday Salvadorans.
Bitcoin’s Poster Child: Jack Mallers
Manufactured Demand
Jack Mallers launched Twenty One Capital with $3.6 billion in digital assets. Dig into the origins—25,812 coins came from Tether and Bitfinex. This wasn’t investor confidence; it was engineered.
Strike’s True Backbone
Strike, Mallers’ earlier venture, promotes peer-to-peer payments—but runs entirely on Tether. It markets decentralization, but it’s actually centralized and dependent.
Saylor’s Strategy Without the Oversight
Mallers wants to “Saylorize” the market with Twenty One Capital. But unlike MicroStrategy, his firm is private, with Bitfinex and Tether pulling strings. It’s a risky copycat move dressed in sleek branding.
Bitcoin and the Saylor Feedback Loop
Borrow, Buy, Hype, Repeat
Saylor’s company, Strategy (formerly MicroStrategy), holds 580,000 coins. The model? Borrow billions, bulk buy, amplify hype, raise more money—and loop. This isn’t long-term vision; it’s tactical speculation.
No Real Use
Strategy doesn’t develop infrastructure or tools. It’s a massive holder, relying on price movements. Much like dot-com era shell firms, it’s valuation over value.
A Familiar Blueprint
There’s no proven link between Saylor and Tether—but the playbook is similar: simulate demand, inflate the price, ride the wave.
Bitcoin and Tether: The Engine Behind the Scenes
The Printing Cycle
Tether prints USDT, uses it to buy crypto, sells for real assets like fiat or gold, then lists those assets as reserves. It’s a loop that looks solid but isn’t.
A Dangerous Echo of Mt. Gox
This resembles the Mt. Gox debacle—but on a much bigger scale. If Tether crumbles, the fallout won’t be a dip—it’ll be a market-wide crash.
Even True Believers Are Worried
At a 2025 event, Saifedean Ammous predicted USDT could outshine the dollar. Meant to boost confidence, it only showed fragility. A “stablecoin” backed by high-risk assets? That’s explosive.
Bitcoin ETFs and the Institutional Pullback
The ETF Outflows
On June 2, 2025, $267.5 million exited crypto ETFs. Institutional involvement is down 91% since 2021. This isn’t cautious optimism—it’s a strategic retreat.
Bitcoin Faces Regulatory Caution
Even with a crypto-friendly administration, the SEC keeps stalling approvals. Concerns remain: fraud, manipulation, and Tether.
Three Big Myths of Bitcoin
The Decentralization Lie
A handful of entities dominate the market: Tether, Bitfinex, Binance, Coinbase, Mallers, and Saylor. Over 90% of coins are held by 1% of addresses. That’s not decentralization—it’s consolidation.
Scarcity Isn’t Value
Yes, the cap is at 21 million. But if demand is fake—driven by Tether printing—then scarcity becomes irrelevant.
Real-World Use Is Tiny
It’s slow and expensive. It’s barely used for payments. The Chivo Wallet failed. Daily usage remains low. It’s an investment product, not a currency.
Bitcoin Culture and the Mind Trap
HODLing as Dogma
Crypto maxis don’t tolerate doubt. Challenge the narrative? You’re spreading FUD. It’s no longer strategy—it’s blind belief.
Led by the Wrong Voices
Mallers. Saylor. Bukele. They sell volatility as freedom. They win by feeding your faith.
History Repeats Itself with Bitcoin
Echoes of the Dot-Com Era
No utility. Overvaluation. Inflated expectations. It mirrors the dot-com bubble—only larger.
Bigger Than Mt. Gox?
If Tether implodes, the damage will dwarf Mt. Gox. Trillions could disappear.
Bitcoin Collapse Is Closer Than You Think
Retail will take the hit. Institutions will exit early. Regulation will step in. Insiders will protect themselves. Most won’t.
Time to Ask the Hard Questions
This isn’t just another cycle. It’s a structure built on synthetic demand, unbacked coins, and tightly held power.
So ask yourself: Who really benefits from your belief?
Join our Discord — where we decode the Bitcoin bubble before it bursts!
Click here to read our latest article: Big Beautiful Bill Key Highlights
