The cryptocurrency community is abuzz with speculation that Jeff Bezos, the mastermind behind Amazon, may be the latest high-profile entrant into Bitcoin investment. This conjecture was ignited by Thomas Fahrer, Apollo co-founder, who suggested on X (formerly Twitter) that Bezos’s recent financial maneuvers could be indicative of a significant interest in BTC.
Bitcoin: Has Saylor Orange-Pilled Bezos? Fahrer’s post provocatively asked, “Is Jeff Bezos piling into Bitcoin right now? Mingling with Michael Saylor? Just liquidated $8.5 billion in Amazon stock? Sitting on cash? Unlikely, he’s sharper than that. Bitcoin’s price pump, hinting at billionaire FOMO? Something’s up,” highlighting Bezos’s recent $8.5 billion liquidation of Amazon stock and his dinner with BTC advocate Michael Saylor as potential evidence of this new venture.
Is Jeff Bezos piling into #Bitcoin right now?
Mingling with Michael Saylor? ✔️
Just liquidated $8.5 billion in Amazon stock? ✔️
Sitting on cash? Unlikely, he’s sharper than that. ✔️
Bitcoin’s price pump, hinting at billionaire FOMO?✔️
Something’s up. 🤔 pic.twitter.com/C4Aq3QKUPR
— Thomas | heyapollo.com (@thomas_fahrer) February 28, 2024
The dinner, detailed in a news report, saw Bezos and his fiancée Lauren Sanchez celebrate with a litany of celebrities and moguls, including Saylor, a well-known Bitcoin bull. This rendezvous has fueled speculation about Bezos’ interest in the digital currency, especially since Saylor is possibly Bitoin’s biggest and most eloquent proponent. It’s easy to imagine that Bitcoin was at least a brief topic of conversation given MicroStrategy’s recent success thanks to its massive BTC holdings.
Bit Paine, a figure of authority in the BTC community, added to the speculation with a tongue-in-cheek comment, “Last time Bitcoin hit $0.06M, Do Kwon was buying with fake Ponzi cash. This time Jeff Bezos is buying with money he found in the couch on his yacht.”
This was complemented by InvestAnswers, a known crypto analyst, who highlighted the creation of a new Bitcoin wallet that saw a transaction of 26,200 BTC at $51K each, suggesting it could belong to a high net worth individual like Jeff Bezos, Mark Zuckerberg, or even a sovereign wealth fund, given the wallet was not associated with any ETFs.
Monster $1.3BN #Bitcoin buy – 26,200 $BTC at $51K.
Looks bullish, perhaps SWF, Jeff Bezos, Zuck, or some other HNW individual. 🚀 PS this is not an ETF wallet. pic.twitter.com/HEpWzEIQRJ
— InvestAnswers (@invest_answers) February 23, 2024
The root of this speculation lies not just in Fahrer’s or analysts’ comments but in Bezos’s recent activities in the financial market. Bezos offloaded about 50 million Amazon shares in February, totaling around $8.5 billion. This move comes after a significant appreciation in Amazon’s stock price, which surged more than 76% over the past year. Despite this massive sale, Bezos remains the largest shareholder in Amazon, with a net worth soaring over $190 billion.
The timing and scale of Bezos’s stock sales, juxtaposed with the anonymous yet colossal Bitcoin purchase, have led to widespread speculation. “Monster $1.3BN Bitcoin buy – Looks bullish, perhaps SWF, Jeff Bezos, Zuck, or some other HNW individual,” noted InvestAnswers, highlighting the scale and potential impact of such a transaction on the BTC ecosystem.
Despite the wild speculation, there is no concrete evidence directly linking Bezos to BTC investments. The community is left parsing for more clues.
At press time, BTC traded $62,566.
BTC price, 1-week chart | Source: BTCUSD on TradingView.com Featured image from Euronews.com, chart from TradingView.com