New Jersey Man Spends 40 Bitcoin On Hitman To Murder Teen Witness In Child Porn Scandal
Portfolio Pulse from Mehab Qureshi
John Michael Musbach has been sentenced to six and a half years in prison for engaging in explicit exchanges with a 13-year-old and attempting to hire a hitman using 40 Bitcoin (CRYPTO: BTC) to murder the teen before they could testify against him in court. At the time of the transaction, the 40 bitcoins were equivalent to $20,000 and are valued at a staggering $1.2 million today. At the time of writing, BTC was trading at $30,846, up 1.55% in the last 24 hours.
June 30, 2023 | 10:53 am
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NEUTRAL IMPACT
The news highlights the use of Bitcoin in illegal activities, which could potentially affect its reputation and market perception. However, the price of Bitcoin has risen by 1.55% in the last 24 hours.
The news highlights the use of Bitcoin in illegal activities, which could potentially affect its reputation and market perception. However, the price of Bitcoin has risen by 1.55% in the last 24 hours, indicating that the market has not reacted negatively to this news. Therefore, the short-term impact on Bitcoin's price is neutral.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100