Bitcoin’s Whole Story is a Staged Illusion, Scripted by Insiders to Convince You Governments and Institutions are “All In” — and That This Market is Booming on Real Demand
By Jacob King
Bitcoin’s whole story is a staged illusion, scripted by insiders to convince you governments and institutions are “all in” — and that this market is booming on real demand.
This is the LARGEST bubble in human history, set to go down as the largest financial scandal ever.
Ask yourself:
If Bitcoin is so decentralized and powerful…
Why do the same few entities control the narrative, the wallets, and the laws?
It’s all smoke and mirrors. Here’s proof.
1. El Salvador’s so-called Bitcoin “investment” was a manufactured illusion.
There is no evidence of any purchases, and fresh blockchain data shows that 6,111 of the 6,114 Bitcoin in their treasury wasn’t even bought—it was transferred straight from Bitfinex and Tether.
Of course they’re behind it. Oh, and did I mention, Tether also wrote all of El Salvador’s Bitcoin bills.
This isn’t national adoption. It’s a liquidity laundering scheme, dressed up to trick retail into thinking “governments are buying, so you should too.” No wonder corrupt Bukele embraced it, Tether bribed them out and used them as a vessel. Bukele gets the PR. Bitfinex gets the liquidity. Tether gets to survive another day.
And for those that missed it, El Salvador has since walked back its Bitcoin legal tender push after the experiment turned into a disaster. The Chivo Wallet effectively went bankrupt and shut down, with usage collapsing by -98.9% after launch.
Not even Tether and its insider network could prop it up—there was simply no real demand.
2. Jack Mallers is part of the inner circle—and deeply tied to the Tether-Bitfinex machine.
His new firm, Twenty One Capital, claimed it’s making massive Bitcoin investments. But on-chain data reveals a whopping 14,000 BTC (over $2B) came straight from Tether’s reserves.
They claim they have so much demand, but the only evidence of anyone ever investing in them is Tether, a company literally found guilty of lying to investors and comitting fraud. Very suspicious…
It’s not an investment. It’s internal accounting—just another shell move in a broader liquidity circus. Mallers’ other company, Strike, has long had close ties to Tether, too. 100% of its payments go through Tether. This isn’t innovation—it’s consolidation.
3. Michael Saylor is running the same reflective Ponzi loop.
I guarantee Saylor has ties to the same insider ecosystem propping this whole thing up. Strategy (his company) isn’t innovating—it’s one of the riskiest, most leveraged stocks in the market. They’re not investing in Bitcoin—they’re milking it.
The playbook is clear: raise capital → buy BTC → hype up price → raise more → repeat. It’s a circular scheme built on hopium and hype.
Saylor’s narrative isn’t about sound money—it’s about keeping the grift alive long enough to extract maximum value before the music stops.
4. Tether and Bitcoin are caught in a circular backing loop—Tether supports Bitcoin, Bitcoin supports Tether. This setup is a ticking time bomb.
At Bitcoin 2025, BTC maximalist Saifedean Ammous, author of The Bitcoin Standard, finally said what everyone’s thinking:
“Tether is quietly accumulating Bitcoin, steadily growing its reserves. One day, its Bitcoin holdings could surpass its dollar reserves. Then, Tether won’t just maintain its peg—it might actually revalue higher. Picture a stablecoin worth more than a dollar, backed by Bitcoin instead of Treasuries.”
This mirrors the collapse of Mt. Gox and Lehman Brothers: when liquidity vanishes, the entire house of cards falls. No real assets, just volatile claims propping each other up. Brace for a massive crash.
5. At the Bitcoin 2025 Conference, Tether announced it owns over 100,000 #Bitcoin and more than 50 tons of gold.
Sounds sketchy as hell. Here’s the play:
1. Tether mints millions out of thin air
2. Buys BTC with that freshly printed Tether to pump prices
2. Sells excess BTC to buy USD and gold as “reserves”
3. Then parades those reserves to prove legitimacy
4. Meanwhile, the crowd (bitcoin maxi sheep) cheers, convinced there’s no fraud
Tether truthers have been right all along. Years ago, we called out that Tether was quietly buying BTC while they denied it. Now, they can’t even hide it anymore. Tether is the only major buyer propping up the entire Bitcoin market—everything depends on their endless printing and buying.
This is the ultimate house of cards.
5. At the Bitcoin 2025 Conference, Tether announced it owns over 100,000 #Bitcoin and more than 50 tons of gold.
Sounds sketchy as hell. Here’s the play:
1. Tether mints millions out of thin air
2. Buys BTC with that freshly printed Tether to pump prices
2. Sells excess BTC to… pic.twitter.com/0BRe0ADyDX— Jacob King (@JacobKinge) June 3, 2025
6. Institutional demand for Bitcoin is just a fad.
On June 2, Bitcoin spot ETFs saw -$267.5 million in net outflows, marking three days in a row of money leaving. This isn’t a one-time thing — it’s been going on for months, showing institutions are pulling out fast.
Back in late 2021, Bitcoin ETF inflows hit billions at the hype peak. Since then, institutional interest has dropped over 91%. These steady outflows reflect growing doubts, tighter regulations, volatile markets, and no clear profits.
Institutions were supposed to support Bitcoin’s price, but they’re bailing instead. The “institutional demand” was just hype and FOMO. The smart money is already moving away.
To make it worse, even the new pro-crypto SEC is cautious. They’re reportedly hesitant to approve more spot Bitcoin ETFs from players like Bitwise and Grayscale, citing weak fraud protections.
This whole Bitcoin ecosystem is nothing but smoke and mirrors. The industry is propped up by relentless manipulation—insiders like Tether and Bitfinex are running a carefully orchestrated show, shuffling coins and liquidity to create the illusion of genuine demand and adoption.
They build this powerful brand narrative to sucker in investors, convincing everyone that governments and institutions are “all in,” when in reality it’s just an elaborate pump-and-prop scheme.
If you’re paying attention and can see through the noise, it’s clear how dangerous this all is. Bitcoin’s price isn’t driven by organic growth or real institutional interest—it’s almost entirely fueled by Tether minting unlimited dollars and buying BTC to keep prices artificially high. More than 90% of Bitcoin demand flows through these Tether injections. Once stablecoin regulations—like those currently being pushed by the Trump administration—crack down on this liquidity faucet, the market will face a brutal reckoning.
Bitcoin will inevitably crash well below $100K, and could easily plunge far under $10K. The so-called “institutional demand” has evaporated, insiders have been exposed, and the propping up can’t last forever. This thread shows how this entire narrative is a manufactured fantasy, a house of cards waiting for the first strong gust of reality to bring it all down at unprecedented speed. Consider yourself warned—this isn’t the future of sound money; it’s a ticking financial time bomb.
Original source: https://x.com/jacobkinge/status/1929798518744449522
