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King’s Day: the Orange and Bitcoin; concern, abuse and fraud

On King’s Day there is of course also a Bitcoin lunch, but one with an Orange touch. After watching the live Bitcoin price and prices of the top 25 crypto we immerse ourselves in Orange. We take a look at how the Orange are handling Bitcoin. That turns out to be a story of worry, abuse and fraud.

Of course, we start with the live Bitcoin price and the prices of the top 25 crypto currencies.

Live Bitcoin price and prices top 25 crypto drop further

At the time of writing, the live Bitcoin price is quoting EUR 36,216.31 ($39,069.48). This is 3.32%% lower than during our Bitcoin lunch yesterday.

The prices of the top 25 crypto are also falling solidly. Apart from a few stable coins, we only see red numbers on the digital price board. The biggest loss is for Dogecoin (DOGE) with -11.86%. This means that the profit made after the announcement of the acquisition of Twitter has just about evaporated. On the site of Tradeincrypto.com you can check all live crypto prices 24 hours a day and of course also during King’s Day.

Now that we know the latest on this festive day, it’s time to dress up in orange and celebrate King’s Day in crypto. We start, of course, with the King…

King Willem-Alexander abused for Bitcoin

Anyone who has been following the crypto market for a while knows that people often misuse the names of famous Dutch people to trick people into Bitcoin scams. These scammers spare no one, as demonstrated by the fact that in 2020 they even abused the King for their shady practices. This was immediately reported on Twitter.

Twitter won’t load because you didn’t give permission.

Hi @koninklijkhuis is it true that King WA got rich with #Bitcoin trading? Just report it seems to me against the Dutch citizen who is behind this. pic.twitter.com/mMIv21VtFe

– Ahmed Aarad* (@AhmedAarad) August 7, 2020

Perhaps this is why Queen Maxima is not very positive about the largest crypto currency.

Queen Maxima is worried about BTC and crypto

In March, Queen Maxima, in her capacity as honorary president of the platform Wijzer in Geldzaken, gave an interview to Radio538 regarding the Week Of Money. Here she gave an outspoken opinion on Bitcoin. You can see this in the interview below.

Starting at minute 4.25, the topic of conversation changes to Bitcoin. In a brief but powerful statement, she makes her views clear.

Now the misuse of her husband’s name was not the only reason that may have caused our monarch to have reservations. In fact, a real Bitcoin fraud took place in the royal family.

Prince Bernhard Jr. victim of Bitcoin fraud

Ahead of the first Bitcoin boom in 2017, entrepreneur Guido Lassally started an investment fund in which he would create and manage a crypto portfolio for well-known Dutch people. Several prominent people such as renowned investors, businessmen and other high society stepped in. Among them Prince Bernhard of Orange-Nassau. The stakes were substantial, as the minimum deposit was at least $100,000 per person.

In November 2018, Lassally decided to sell 400 Bitcoins on behalf of investors at $4,000 each. To do so, they did a so-called over-the-counter transaction. Through a custody service, the coins would be sold to a lawyer (Patrick Glémaud).

You guessed it, through all kinds of constructions, the 400 BTC and the money had disappeared. The investors, who are in an app group together with Lassally get a weird feeling when Lassally’s messages become contradictory. The proposal to use an ex-military man as a no-cure-no-pay debt collector also falls flat. Prince Bernhard initially sees a legal action against Lassally as a way out, but in the end the victims do not pursue the lawsuit. The extensive report can be read here.

The case seems to have fizzled out, but on Queen’s Day last year it was revealed that asset manager Lassally would be filing a lawsuit against Glémaud after all. Lassally explains that it is not only fighting for compensation, but also for the restoration of honour. The status of this fight is not (yet) known.

With this Bitcoin investment special, we can add another chapter(s) to the folder of knowledge about investing by the Orange family. Last year we already saw that the Royal Family can sometimes be caught out on a blunder when it comes to investments.

For now, we wish you a very happy King’s Day!

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