RATE Group | Crypto Community Fears North Korean BTC Sell-Off Amid Rumors of Kim Jong Un’s Death
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Crypto Community Fears North Korean BTC Sell-Off Amid Rumors of Kim Jong Un’s Death

27 Apr Crypto Community Fears North Korean BTC Sell-Off Amid Rumors of Kim Jong Un’s Death

Posted at 17:35h in Cryptocurrency News by

Following rumors that North Korea’s supreme leader Kim Jong-Un is either in declining health or dead, reports started circulating that the country’s Bitcoin (BTC) reserves will be sold.

According to a March 2019 report, at the time North Korea already held about $670 million in crypto assets. This non-trivial amount of cryptocurrency is by many believed to be under Jong-Un’s direct control.

Because recent reports suggest that North Korea’s leader’s life is in danger after a failed heart surgery, many are afraid that the country’s crypto holdings may be sold, causing the price to drop.

Jong-Un’s BTC dump: a joke turned rumor

Furthermore, market correspondent at crypto news outlet CoinDesk Zack Voell recently posted a joke on Twitter that has seen over a thousand likes, in which he claimed that Jong-Un’s Bitcoin was moved onto the U.S.-based crypto exchange Coinbase.

Kim Jong-Un’s deleted Bitcoin transfer joke. Source: Twitter

Kim Jong-Un’s deleted Bitcoin transfer joke. Source: Twitter

At a later time, he deleted his tweet and…

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