Here’s how Kim Jong Un’s alleged death can affect Bitcoin

On April 25, respected media in Japan and China announced that North Korea’s dictator, Kim Jong Un, had died after a failed heart surgery.

While North Korea has yet to officially confirm the death of its supreme leader, the news has sparked speculation about what the ‘ Hermit Kingdom’ would do with the huge deposits of Bitcoin (BTC).

North Korea may trigger a market sale

The Russian Market “Twitter profile”, which appears to be part of Zero Hedge, sparked discussion, suggesting North Korea sell its BTC in the event of Kim Jong’s death.

One of the most isolated countries in the world is reportedly hacking crypto exchanges to circumvent Western sanctions and continue to sponsor its nuclear program. According to the United Nations, North Korea has collected cryptocurrency worth more than $ 670 million as of March 2019.

Last month, the US government indicted two Chinese hackers linked to the Lazarus Group in North Korea.

Novograts says “buy Bitcoin”

Still, the crypto community has taken the post with skepticism. The fact that North Korea owns a lot of BTC does not necessarily mean that it will start selling it because of Kim’s death, likening cryptocurrencies to uranium and fish.

Meanwhile, Galaxy Digital CEO Mike Novogratz simply responded with “Buy Bitcoin” in response to Anthony Pompliano’s tweet about the authoritarian leader.