Rumor has it that North Korea’s top leader Kim Jong-Un is in declining or dead health, Reports circulated that the country’s Bitcoin Reserves (BTC) are being solds.
To As of March 2019, North Korea already had approximately $ 670 million in crypto assets. Many believe that this non-trivial amount of cryptocurrencies is under the direct control of Jong-Un.
Because recent reports indicate that the life of the North Korean leader is in danger after a failed heart operationMany fear that the country’s cryptocurrency holdings could be sold, which could lead to a drop in prices.
However Many experts are now saying that there is no reason to believe that something unusual is happening to Kim Jong-Un.
Jong-Un’s BTC “Dump”: A joke became a rumor
In addition, market correspondent for crypto news company CorinDesk, Zack Voell, recently published a prank on Twitter that has garnered more than a thousand “likes”., in which he claimed that Jong-Un’s Bitcoin had been transferred to the US-based cryptocurrency exchange Coinbase.
The deleted joke about Kim Jong-Un’s Bitcoin transfer. Source: Twitter
He later deleted his tweet and explained his reasons in another message::
“I deleted that […] Tweet to make people stop asking me about a hash TX and because some media still takes it seriously. The stupidity in this industry is just incredible. “
As Voell’s tweet suggested, Various media reported how Jong-Un’s deteriorating health could affect Bitcoin’s priceand some took Voell’s tweet seriously, which has now been removed. Later he tweeted::
“I can’t believe I have to say that, but North Korea won’t sell all of its bitcoins (or monero) if Kim Jong-Un is really dead.”
North Korea’s relationship with cryptocurrencies
North Korea’s infamous secret means that we don’t have a lot of verified information about the government’s use of cryptocurrencies. Nevertheless, as Cointelegraph reported in mid-March, the forensic company CipherTrace said in a report that two Chinese citizens washed tens of millions of cryptocurrencies stolen on behalf of the North Korean regime.
In February a A study found that Internet use in North Korea has tripled in the past three years, as the country’s regime still relies on cryptocurrencies for various activities.