The phrase comes from Bizonacci's satirical He bought? video, which turned Igor and Grichka Bogdanoff into crypto folklore by portraying them as shadowy figures who control the Bitcoin market. In the sketch, the question he bought? is answered with the blunt command dump it, and that exchange was clipped, remixed and shared across crypto Twitter, YouTube and meme pages. Its staying power comes from how easily it fits any market sell-off, making it a shorthand joke for panic selling and sudden crashes.