Crypto rumor suggests Jeff Bezos sold $8.5 billion in Amazon stock to buy Bitcoin

Crypto rumor suggests Jeff Bezos sold $8.5 billion in Amazon stock to buy Bitcoin

Bezos' recent sale of $8.5 billion in Amazon stock has fueled speculation about his connection to crypto.

Share

Add us on Google
by Vince Dioquino

Speculation in the crypto industry is nothing new. With Bitcoin reaching past $60k this week, fueled by institutional interest, such speculations could do more harm than good.

The latest rumor (read: unconfirmed) is that Jeff Bezos is buying Bitcoin. The rumor is based on an X post from Apollo co-founder Thomas Fahrer’s post on X, which presents conjectures on the possibility that Bitcoin could be the reason behind Bezos’ recent stock selloff.

Advertisement

The reason behind this, Fahrer speculates, is “billionaire FOMO,” or fear of missing out. The reasoning could be skewed, though, and Bezos has yet to make any announcements on the matter. There is also no solid evidence that Bezos did buy, as no public records support this claim.Ā 

A February 21 report from Bloomberg indicates that the Amazon founder hadĀ sold up to 50 million shares of the company’s stock. This sale unloads roughly $8.5 billion worth of funding for Bezos to buy Bitcoin, purportedly.

There is some connection in the fact that Fahrer’s tweet shows a photo of Bezos with his fiancĆ©e, Lauren Sanchez, at a birthday celebration. For context, this photo is from a New York Post articleĀ published on June 12, 2023.

In the screenshot of the article as tweeted by Fahrer, MicroStrategy chief Michael Saylor was mentioned as attending the celebration, held in a yacht docked at the port of Gustavia on the island of Saint BarthƩlemy in France.

However, the current version of the article (linked above) no longer mentions Saylor. Notably, it has also changed the location of the yacht to Portofino, Italy.

This kind of content may be unreliable, particularly for crypto investors. It’s advisable to #DYOR, or “do your own research” before participating in any investment, whether it’s Bitcoin, decentralized finance, NFTs, or others.

According to data from CoinGecko, Bitcoin is now trading at the $62,600 level.

Disclosure: This article was edited by Vince Dioquino. For more information on how we create and review content, see our Editorial Policy.
BITCOIN
Crypto rumor suggests Jeff Bezos sold $8.5 billion in Amazon stock to buy Bitcoin
Crypto rumor suggests Jeff Bezos sold $8.5 billion in Amazon stock to buy Bitcoin

Bezos' recent sale of $8.5 billion in Amazon stock has fueled speculation about his connection to crypto.

by Vince Dioquino

Share

Add us on Google

Speculation in the crypto industry is nothing new. With Bitcoin reaching past $60k this week, fueled by institutional interest, such speculations could do more harm than good.

The latest rumor (read: unconfirmed) is that Jeff Bezos is buying Bitcoin. The rumor is based on an X post from Apollo co-founder Thomas Fahrer’s post on X, which presents conjectures on the possibility that Bitcoin could be the reason behind Bezos’ recent stock selloff.

Advertisement

The reason behind this, Fahrer speculates, is “billionaire FOMO,” or fear of missing out. The reasoning could be skewed, though, and Bezos has yet to make any announcements on the matter. There is also no solid evidence that Bezos did buy, as no public records support this claim.Ā 

A February 21 report from Bloomberg indicates that the Amazon founder hadĀ sold up to 50 million shares of the company’s stock. This sale unloads roughly $8.5 billion worth of funding for Bezos to buy Bitcoin, purportedly.

There is some connection in the fact that Fahrer’s tweet shows a photo of Bezos with his fiancĆ©e, Lauren Sanchez, at a birthday celebration. For context, this photo is from a New York Post articleĀ published on June 12, 2023.

In the screenshot of the article as tweeted by Fahrer, MicroStrategy chief Michael Saylor was mentioned as attending the celebration, held in a yacht docked at the port of Gustavia on the island of Saint BarthƩlemy in France.

However, the current version of the article (linked above) no longer mentions Saylor. Notably, it has also changed the location of the yacht to Portofino, Italy.

This kind of content may be unreliable, particularly for crypto investors. It’s advisable to #DYOR, or “do your own research” before participating in any investment, whether it’s Bitcoin, decentralized finance, NFTs, or others.

According to data from CoinGecko, Bitcoin is now trading at the $62,600 level.

Disclosure: This article was edited by Vince Dioquino. For more information on how we create and review content, see our Editorial Policy.