While browsing Crypto-Twitter, which is my favorite thing since a year ago (sorry Netflix) I stumbled upon a tweet from well-known bitcoin proponent Andy Hoffman. Andy came out with an interesting speculation on the topic of Mt.Gox bitcoins buyer.

I have for some time speculated the Bank of Japan is actively acquiring a big #Bitcoin position. If we find out down the road, that it "conveniently" acquired large amounts whilst the Mt Gox Trustee was selling, it wouldn't surprise me one bit! — Andy Hoffman (#HODLBTC) (@Andy_Hoffman_CG) March 9, 2018

Of course, this just might be a wild speculation from him but it also could be a very valid point of view. Someone (individual or institution with a lot of money) did buy a block of $400 million bitcoins some 3 weeks ago.

As you can see from the replies to his tweet, there are couple of Twitter users who don’t really agree with him and think banks don’t buy to speculate.

Japan is currently known to be one of the most crypto friendly nations in the world as cryptocurrencies have been regulated by the government and increasing number shops and businesses in the country accept Bitcoin and other altcoins as a means of payment.

Earlier this year, Governor of Bank of Japan, Haruhiko Kuroda, stated:

“Cryptocurrencies aren’t legal tenders and don’t have assets to back up their value… Some people say they should be described as crypto-assets, not cryptocurrencies,”

However, the Japanese Financial Services Agency (FSA) announced on Thursday that it had

“punished seven cryptocurrency exchanges, ordering two of them to suspend business, in an effort to shore up consumer protection,”

Reuters reported. As Marketwatch reported, the regulator has learned that one of the heads of Bit Station (one of the suspended exchanges) used client bitcoins for personal purposes.

This decision is probably propelled by the fact that in mid-January, in Japan, $530 million was stolen from the Coincheck exchange in the NEM crypto currency.

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