Binance bought $2 billion worth of Bitcoin!

The cryptocurrency market has been experiencing a bearish period for a long time. BTC, which broke a record last year with a level of 64 thousand dollars, rose to the level of 69 thousand dollars by making its historical peak after experiencing a decline. But as of yesterday, it has decreased to 17 thousand 622 dollars. While investors were getting increasingly worried, a refreshing statement came. Binance bought 101 thousand 266 Bitcoins.

Binance bought $2 billion worth of Bitcoin!

Binance bought 101 thousand 266 Bitcoins at a price of $ 19 thousand 176. This corresponds to 1 billion 941 million 876 thousand 816 dollars. In other words, roughly speaking, he invested close to $2 billion in BTC. Therefore, the company has used almost all the money it has left, except for its current investments and their returns.

Before Binance buys BTC (Source: Binance)

It should be noted that this is a very critical and big step for both the company and its CEO, Changpeng Zhao. Because it turned out that Zhao’s fortune has decreased to 10 billion dollars as of now, and he lost exactly 86 billion dollars due to the collapse.

What would you gain if you bought 10 thousand lira worth of Bitcoin a year ago?

What would you gain if you bought 10 thousand lira worth of Bitcoin a year ago?

Many people see cryptocurrencies as an investment tool. If you had bought Bitcoin 1 year ago, how much would you have now?

Of course, not only the crypto crash, but also the world’s richest names lost hundreds of billions of dollars this year due to global inflation and crises (chip, cable, supply etc.). So much so that the wealth of Elon Musk, who frequently brings his name to the agenda with coins such as BTC, ETH, DOGE and SHIB, has decreased by 73 billion dollars in the last 6 months. But with his remaining assets of 197 billion, he is still the richest person in the world.

Binance recently decided to temporarily stop selling transactions when BTC started to decline. But this had the opposite effect of what was expected. So much so that Bitcoin has regressed to its level 2 years ago. However, the fact that the company has invested close to 2 billion dollars seems to give positive results for now.

After Binance receives BTC (Source: Binance)

Because after this news, BTC managed to rise above the level of 20 thousand dollars. It is currently trading at $19,450. But there is general chaos in the entire crypto market, not just Bitcoin. It is thought that the USA’s war on mining after China has triggered this situation.

Note: It is not investment advice.

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