Article
Prominent trader:Binance Replenishing stolen assets could bring buying pressure; remains bullish on Bitcoin
BlockBeats reports that October 30, prominent trader Doctor Profit, stated that he remains bullish on Bitcoin and believes that Binance may generate buying pressure due to the need to replenish stolen assets. He said that any portion that cannot be covered through asset recovery or the company's existing holdings would need to be repurchased, although the specific purchase amount has not been disclosed.
According to his estimates, the incident involves approximately 6300000000 USD, of which approximately 3000000000 USD has been frozen. He expects that, after Tether and Circle reissue the corresponding assets, the remaining shortfall will be approximately 3300000000 USD, representing approximately Binance of 2.05%'s total assets. Based on this, he concluded that if no further funds are frozen,Binance will need to repurchase approximately 3300000000 USD in crypto assets, including Bitcoin, and interpreted this potential replenishment demand as capital inflows.
Doctor Profit stated that the incident has not shaken his bullish stance; his Bitcoin long position opened at 80,400 USD and spot holdings purchased at 60,000 USD are still held. He said he had prepared for volatility before entering the market and would not exit his positions because of this incident.
Original link https://m.theblockbeats.info/flash/374676