There have been multiple news reports speculating surrounding Kim Jung-un, the leader of North Korea’s death. Reportedly, North Korea’s leader has not made a public appearance in many days. According to Fox News, China has reportedly dispatched a team of medics to tend to Kim Jung-un after botched heart surgery. North Korea has been accused of stealing cryptocurrency and funding nuclear weapons.
“North Korea’s multi-million dollar crypto stash in question.”
If the rumors about Kim Jong-Un are correct, then North Korea’s stability could be in serious jeopardy. All the severe geopolitical implications notwithstanding, the country also holds a massive cryptocurrency stash. DPRK may sell these assets off quickly if the leadership feels it is under threat. According to the UN Security Council Report, it is estimated that the rouge state has stolen some $2B in cryptocurrency since 2015. Further reports claim that the country has bee using these funds to bankroll its nuclear weapons program.
Would North Korea sell off its Crypto Stash?
The fate of this cryptocurrency stash hold by North Korea may be now uncertain. In fact, according to some commentators, it may even be sold off on the market en masse. But chances of North Korea selling off all its crypto stash is very much unlikely.
North Korea has $670 million in bitcoin
– North Korea news should trigger big selloff in Bitcoin (if Kim’s death confirmed)
— Russian Market (@russian_market) April 25, 2020
A lot of Twitter users are speculating that the news might result in a massive Bitcoin selloff. DPRK is believed to hold more than $670 million worth of cryptocurrencies. But the question about selling off crypto only arises if the rumors around the death of Kim Jong-un are revealed.
