Crypto Community Fears North Korean BTC Sell-Off Amid Rumors of Kim Jong Un’s Death
Following rumors of the death of North Korea’s Kim Jong-Un, reports begin circulating that the country’s Bitcoin reserves will see mass sell-off.
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. Many believe this non-trivial amount of cryptocurrency to be under Jong-Un’s direct control.
Because recent reports have suggested 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.
Note, however, that many experts are now saying that there is no reason to believe that anything unusual is happening with Kim Jong-Un.