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Alibaba rumored to have bought $ 20 billion worth of Bitcoin


The moon of the first day of the second quarter of the year unfolds on a bullish note for the cryptocurrency community. Bitcoin has started to correct losses as it heads for a new price test at $ 60,000, while Ethereum closed the month of April above $ 2,800, encouraging investors to pay attention to the asset as it moves towards the price mark. long-awaited $ 3,000.

All of these market moves are bullish for the community, but Bitcoiners are taking it even further while crossing their fingers by the time China-based e-commerce company Alibaba finally announces its official purchase of Bitcoin, which rumors claim to have. worth $ 20 billion.

Did Alibaba Really Spend $ 20 Billion on Bitcoin?

The rumor in the streets of Crypto Twitter is that the e-commerce giant has obtained a good amount of Bitcoins for its company. Fair share because it would be right for Alibaba to join its peers globally in the race for Bitcoin ownership before the market begins to register institutional congestion. The rumors follow the company's announcement that its first quarter 2021 earnings report will hit the market on May 13.

Jack Ma, CEO of Chinese technology conglomerate Alibaba Group Holding Ltd.

Alibaba Group Holding Limited (NYSE: BABA and HKEX: 9988, Alibaba) revealed that before the reopening of the US market, on May 13, 2021, which is a Thursday, it will announce its financial results for the first quarter, which will be unaudited. A conference call discussing financial results should precede the earnings release on the same day, at 7:30 pm Hong Kong time.

Like any other quarterly financial report, it will include significant totals that reflect the growth of the company during the first period of the year. Members of the crypto community expect the company to list its Bitcoin returns – that is, of course, if the rumors are true and the purchase was made much earlier.

No official source has verified or criticized the rumors, but key players in the Bitcoin community had a few things to say.

"I heard a rumor that Alibaba is buying $ 20 billion worth of BTC." Commented Nikita Sachdev, Blockchain and Crypto enthusiast. CNBC's Ran Neuner too tweeted Which could be interesting, since he hints that the rumors were true. "United States: Tesla buys $ 1.5 billion in Bitcoin. China: Alibaba, hold my beer ”, wrote.

Alibaba may have bought some Bitcoin, even though its president, Jack Ma, had labeled the asset a bubble. As we've seen before, companies like JPMorgan and many other major firms have offered Bitcoin services to their clients, while their leaders have been bearish or neutral on the asset.

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