Posts

STEEM spikes on news of takeover

avatar of @drutter
25
DRutter
@drutter
·
0 views
·
1 min read

On the unexpected news that Steemit has been sold to Chinese tech investor Justin Sun, STEEM spiked instantly up by 10%.

Wikipedia says Sun is "the founder of the cryptocurrency platform TRON and current CEO of BitTorrent", and that he has been involved with Ripple.

I've long speculated that 'shenanigans' may be one reason for the continued collapse of STEEM's price over the past year, and that we might not see a price bottom in the currency until a sudden takeover is announced.

Could this be that takeover?

And if so, what does it mean for Steemit (company and website)? What does it mean for the Steem blockchain, and for the Steem community, side chains, tokens, projects?

DRutter