Rumor has it that Alibaba has bought $ 20 billion in Bitcoin
Bitcoin price has started to adjust losses as it moved towards retesting the price at $ 60,000, while Ethereum ended April on $ 2800. All these market moves are optimistic for the community, but Bitcoiners are going even further as they continue to outdo China-based e-commerce company Alibaba, finally announcing. His official Bitcoin purchase, which rumored to be worth $ 20 billion.
Is Alibaba really spending $ 20 billion on Bitcoin?
Crypto street rumor Twitter is that the e-commerce giant has acquired a fair share of Bitcoin for its company. The sharing is fair because it would be right for Alibaba to join its global peers in the race for ownership of Bitcoin before the market begins to record institutional congestion. Rumors emerge after the announcement from the company that the 2021 Q1 earnings report will hit the market on May 13.
Alibaba Group Holding Limited revealed that before the US market reopens, on May 13, 2021, on Thursday, it will release its first quarter financial results. has not been audited. A conference meeting where financial results will be discussed prior to earnings release on the same day, at 7:30 pm, Hong Kong Time.
Like any other Quarterly financial report, this report will include the total number of key metrics that reflect the company’s growth for the first period of the year. Cryptocurrency community members expect the company to list its Bitcoin profits, which is of course if the rumor is true and if the purchase is made much earlier.
There are no official sources to verify or disprove the rumors, but important players in the Bitcoin community have a few things to say.
CNBC’S Ran Neuner also tweeted what could be interesting as him implying that the rumors were true:
USA: Tesla buys $1,5bn in Bitcoin.
China: Alibaba, hold my beer.
— Ran Neuner (Non fungible) (@cryptomanran) May 1, 2021
It is likely that Alibaba bought some Bitcoin, even though its Chairman Jack Ma viewed the asset as a bubble. As we’ve seen before, companies like JPMorgan and many more mainstream companies offer Bitcoin services to their customers, while their leaders were either negative or neutral about this property.
You can see the BTC price here.
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