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Digital Currency Group founder Barry Silbert made a surprising move by deleting a significant portion of his old tweets. This action has led his followers and the crypto community to speculate about the reasons behind this social media cleanup. Various guesses are being made, but clear answers have not yet been found.
Barry Silbert’s Twitter Activity
Barry Silbert’s presence on Twitter, according to account information, dates back to October 2011. However, a closer look reveals that, as of the latest update, there are no tweets or responses older than January 5th of the current year in Silbert’s timeline.
A glimmer of hope for Silbert fans comes from a user named Pledditor, who meticulously captured and saved some of Silbert’s noteworthy tweets. Among these is a post where Silbert describes himself as a “complete and utter professional failure.” Another tweet advises Dogecoin holders to convert their holdings into Bitcoin.
While the exact motivations behind Silbert’s decision to delete a significant part of his Twitter history remain unclear, this move has not gone unnoticed, especially amid ongoing investigations.
Contextualizing the Social Media Cleanup
Barry Silbert found himself in the crosshairs on social media following significant withdrawals from Grayscale’s Bitcoin Trust (GBTC) totaling about $580 million last week. These mass exits from GBTC were cited as a contributing factor to the drop in Bitcoin prices. It should be noted that GBTC was converted into an ETF at the end of the previous week.
Bitcoin experienced a drop on Friday, falling below $43,000 after reaching over $49,000 on Thursday, the highest level in two years. The correlation between the exits from GBTC and the drop in Bitcoin price intensified discussions within the crypto community.
Speculations and Questions: What Prompted the Cleanup?
The timing of Barry Silbert’s social media cleanup, amid recent events surrounding Grayscale and Bitcoin’s price fluctuations, raises questions about potential correlations. The absence of tweets prior to January 5th adds a layer of mystery to the situation.
While the crypto community is busy with discussions and speculations about Silbert’s motivations, market dynamics and the actions of influential figures continue to shape the narrative in a broader context.
