Wealth, Influence, and Bitcoin: The Market Moves of the Ultra-Rich

Who Is David Wolfe?

David Wolfe is a controversial and polarizing figure in American business.

Known online as David Avocado Wolfe, he is widely associated with pseudoscientific beliefs, alternative medicine, and conspiracy theories. His nickname “Avocado” stems from his passion for the fruit and his advocacy for raw foodism. Wolfe actively promotes a healthy lifestyle, superfoods, and natural remedies, while being a vocal critic of conventional medicine, particularly vaccination. His anti-vaccine stance has sparked widespread debate, fueling the popularity of his social media presence.

He is the founder and president of the Fruit Tree Planting Foundation and operates several businesses and websites, including Longevity Warehouse and The Best Day Ever, where he promotes his products and ideas.

In the crypto space, Wolfe is neither a recognized expert nor a dedicated crypto enthusiast. However, he seizes every opportunity to amplify speculative theories, including claims of crypto market manipulation. His latest post on the subject attracted over 500,000 views.

Do Whales Manipulate the Crypto Market?

According to David Wolfe, Bitcoin billionaires wield unlimited power, shaping market trends through crypto market manipulation.

Wolfe claims that whales are artificially driving Bitcoin’s price down to $60,000 to… take control of Michael Saylor’s company, MicroStrategy!

While Wolfe’s theory may sound like pure conspiracy, some argue that where there’s smoke, there’s fire.

With vast resources and access to advanced trading platforms, billionaires have the power to engage in crypto market manipulation. To artificially push prices down, they often employ:

• Large-scale sell-offs
• Coordinated trading strategies
• Strategic information attacks 

For example, placing massive sell orders can trigger panic selling, temporarily crashing cryptocurrency prices. Once the market reaches their target level, these manipulators buy back the asset, profiting from both the downturn and the rebound.

This strategy is nothing new—large players frequently erode confidence among retail investors, creating systemic risks for the market.

Moreover, Wolfe hints at more complex objectives, such as gaining control over corporate assets like MicroStrategy. Led by Michael Saylor, the company holds around $40 billion in BTC, making it a prime target for whales. If they are indeed artificially driving down Bitcoin’s price to acquire MicroStrategy shares or influence its strategic decisions, this goes far beyond ordinary trading tactics. 

Such actions could destabilize not just the crypto market but also traditional financial markets, where companies like MicroStrategy play a key role. The market activity of large players often precedes sharp price swings, adding weight to Wolfe’s claims.

Another crypto market manipulation tactic involves spreading false information through social media. Whales and their affiliated media channels often use platforms like X to fuel rumors about regulatory crackdowns or technical failures, triggering a community response. While such tactics are illegal in traditional financial markets, the crypto market remains loosely regulated, providing opportunities for manipulation.

However, crypto market manipulation doesn’t go unnoticed. Blockchain analytics firms such as Chainalysis and Elliptic monitor large fund movements to detect potentially manipulative activities. Still, billionaires’ wealth and influence give them a clear advantage. By using offshore accounts, complex ownership structures, and anonymous wallets, they can make it difficult to trace their actions. For retail investors, this creates even greater risks. 

The crypto community is actively discussing how decentralization can combat crypto market manipulation. In theory, blockchain technology is meant to be transparent and resistant to external influence, but the reality is more complicated. As long as whales dominate the market, their actions will continue to create ripples.

Current Market Conditions and the Impact of Crypto Market Manipulation

Believing David Wolfe’s claims is a personal choice, but ignoring the clear influence of institutional players and VC investors on the crypto market is not. As of March 2025, crypto market manipulation remains a major force shaping Bitcoin and other cryptocurrency prices.

In his post, Wolfe highlights a specific target—pushing Bitcoin’s price down to $60,000, suggesting it could be part of a larger strategy (possibly aimed at pressuring key industry players, including companies building strategic crypto reserves).

Meanwhile, major hedge funds and corporations continue to expand their BTC holdings, increasing competition for its limited supply. According to Glassnode, the amount of Bitcoin held by large wallets grew by 15% in 2024, further amplifying their potential market influence.

This creates a scenario where even small moves by crypto billionaires can trigger major market fluctuations. For example, a $500 million Bitcoin sell-off could drive the market down by 5–10% within hours.

For retail investors, this underscores the need for caution. Many rely on charts and trends, often failing to recognize that market movements may be driven by manipulation. 

Platforms like TradingView and CoinMarketCap provide valuable insights into price movements, but without understanding the broader context, investors risk falling into traps. In 2025, Messari analysts even advocated for the creation of decentralized analysis tools to mitigate the influence of crypto whales.

Crypto market manipulation by the ultra-wealthy remains a central issue for a free market. It creates risks, inequality, and instability for retail investors. Until there is sufficient regulation, transparency, and protective tools, Bitcoin will continue to be a playground for billionaires.