No, it's the Wegman's strategy. 
http://articles.businessinsider.com/2011-09-19/strategy/30174700_1_wegmans-supermarket-customers
They buy up real estate, build one of their awesome stores, and make money leasing the surrounding real estate.  They add value to something, so it just makes logical sense to purchase it at the previous low value and sell at the high value.  It's been incredibly successful for them.  ASIC do the same thing for bitcoin. 

Pump & Dump implies adding no real value, but simply hype.  That is not what is going on here.