Mark Zuckerberg, the co-founder of the social networking app, Facebook, caused an uproar in the crypto community with a recent post he made. Earlier this morning, the American media magnate and internet entrepreneur posted a picture of his pet goats, introducing them to the world as Max and Bitcoin.
The post has caused a lot of speculation to rise as to the meaning behind giving his goats those names and sharing them on his page. One of them is that Zuckerberg might own bitcoin and is indirectly trying to tell the world by naming one of his goats ‘bitcoin’ and posting it.
While the Facebook co-founder has not directly announced that he owns bitcoin, last month it was rumored that he bought bitcoin. One of those that started such a rumor was Alistair Milne, an investor, and the Atlanta Digital Currency Fund CIO.
He made a tweet saying that Facebook will reveal its bitcoin holdings when it releases its quarterly results that April. However, when the company’s 2021-Q1 earnings report was released, there was no sign of Bitcoin on it. Time shall tell if Zuckerberg was trying to send a coded message on his intentions to buy the crypto asset.
RUMOUR: Facebook will annouce they hold #Bitcoin on their books when they release their quarterly results after trading closes tomorrow
— Alistair Milne (@alistairmilne) April 27, 2021
Zuckerberg buying Bitcoin will not be a total shock as he is already involved in the cryptocurrency industry. In 2019, Patrick Ellis, a member of the project’s governing board revealed that Facebook’s Libra cryptocurrency project will go live in 2020, amidst regulatory backlash from regulators across the world.
Meanwhile, some members of the public also credited the post as the cause of the rise in the price of Bitcoin and some other cryptos. Bitcoin, which was trading at around $59,000 yesterday afternoon, dropped from over US$56,000 to $53,400 in less than 30 mins.
Ether also reduced from over US$4,000 to US$3,661 at the same time. However, after Zuckerberg made that post, this morning, both currencies recorded an increase in price. At the time of writing, BTC and Ether are currently sitting at 55,639 and 4,004 respectively.