NetEase CEO, William Ding, is rumoured to have purchased 96,000 Bitcoin from an unnamed exchange
Finance Magnates reports that someone operating under the account named 'Yi Mei' purchased 96,000 Bitcoin from an unnamed exchange - which is close to $1 billion based on current market value, citing Chinese news outlet Sina.
Ding is so far denying the allegations, after alleged close friends of his posted screenshots of conversations that led to rumours that he was the one masquerading as 'Yi Mei'. Ding is the CEO of Chinese company NetEase, known for its online gaming operations.
Although Ding is distancing himself from the purchase here, he is not distancing himself from blockchain technology as his company has invested in a US-based startup called ArcBlock - claiming to be the "world's first blockchain ecosystem for building and developing decentralised applications".
Either way, that's a rather sizeable purchase given the recent shakiness that has impacted the outlook for Bitcoin and the cryptocurrency market. If you had $1 billion, would you have invested all of it into Bitcoin?