Company CEO Resigns After Announcing Purchase of 24,800 Bitcoins

South American gold producer Nilam Resources’ CEO resigned after Bitcoin (BTC) news. It was reported that Nilam Resources planned to purchase 24,800 Bitcoins worth $1.7 billion not long ago. One day after this news, Nilam Resources CEO Ron McIntyre resigned. According to the news presented by Protos, CEO McIntyre stated that he resigned from his CEO position as of today and his name was removed from all corporate documents. When asked why he resigned from his position, McIntyre stated, “Just look at the chart, this is a classic pump-dump operation. There will be a FINRA investigation into Nilam Resources.” The fact that the company’s current cash assets were less than the claimed $1.7 billion worth of Bitcoins to be purchased raised questions about the authenticity of the news. On the other hand, the situation referred to as a pump-dump operation by the CEO was the rise in the company’s shares. […]

Company CEO Resigns After Announcing Purchase of 24,800 Bitcoins

South American gold producer Nilam Resources’ CEO resigned after Bitcoin (BTC) news.

It was reported that Nilam Resources planned to purchase 24,800 Bitcoins worth $1.7 billion not long ago. One day after this news, Nilam Resources CEO Ron McIntyre resigned.

According to the news presented by Protos, CEO McIntyre stated that he resigned from his CEO position as of today and his name was removed from all corporate documents.

When asked why he resigned from his position, McIntyre stated, “Just look at the chart, this is a classic pump-dump operation. There will be a FINRA investigation into Nilam Resources.”

The fact that the company’s current cash assets were less than the claimed $1.7 billion worth of Bitcoins to be purchased raised questions about the authenticity of the news.

On the other hand, the situation referred to as a pump-dump operation by the CEO was the rise in the company’s shares. Shortly after the news of purchasing Bitcoin, the company’s shares saw a 1,920% increase. The company’s share price closed the day on March 26 with a 1,509% increase.

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