FTX CEO Can Buy BTC, Hinting Current Price Could Be Bottom

During the recent summit, FTX CEO did not talk about “rescuing the market”, Sam Bankman-Fried also shared about the upcoming BTC buying plan.

FTX exchange and investment fund Alameda Research have offered relatively “expensive” bailouts for lending platforms such as BlockFi ($400 million) and crypto company Voyager Digital ($250 million) amid the market downturn large-scale recession.

“We can make a bad deal at a moderate price to save a certain crypto company that is on the verge of crisis, to bring a lot of development and constructive benefits in this space.”

FTX CEO Sam Bankman-Fried talked with Matt Levine at the Bloomberg Crypto Summit

FTX CEO reveals plans to buy BTC

Besides affirming that he is not afraid to pump money to support the market, CEO Sam Bankman-Fried also shared that FTX has begun to plan to prepare to buy Bitcoin if the price of BTC drops to a certain level.

“At some point FTX could buy Bitcoins for its balance sheet.”

He said

As such, it can be partly guessed that the CEO of FTX is hinting that the current price area is likely to be the “bottom” of Bitcoin in this bearish cycle. Coincidentally, in a discussion with Former Goldman Sachs CEO and Real Vision CEO Raoul Pal, he also made the same comment when assessing the macroeconomic state and the market’s recovery after the crisis panic.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Foxy

CoinCu News