Renowned Trader: Binance's Replenishment of Stolen Assets May Bring Buying Pressure, Maintains Bullish Stance on Bitcoin

BlockBeats news, October 30 - Well-known trader Doctor Profit posted that he remains bullish on Bitcoin and believes Binance's need to replenish stolen assets could bring buying pressure. He stated that the portion that cannot be covered by asset recovery or the company's existing holdings needs to be repurchased, but the specific purchase amount has not yet been announced.

According to his estimate, the related incident involves approximately $6.3 billion, of which about $3 billion has been frozen. He expects that after Tether and Circle reissue the corresponding assets, the remaining gap will be about $3.3 billion, accounting for approximately 2.05% of Binance's total assets. Based on this, he judges that if no more funds are frozen subsequently, Binance will need to buy back approximately $3.3 billion in crypto assets, including Bitcoin, and interprets this potential replenishment demand as capital inflow.

Doctor Profit stated that this incident has not shaken his bullish stance, and his Bitcoin long position opened at $80,400 and spot purchases made at $60,000 are still held. He said he was prepared for volatility before entering the market and will not exit his positions due to this incident.