(Yicai Global) Feb. 22 -- Rebuffing reports that he spent USD1 billion buying bitcoin, William Ding, NetEase Inc.'s chief executive, said he has never owned even a single unit of the digital coinage, though he closely attends to blockchain development, Netease reported today.
A buyer of unknown identity spent USD1 billion on 96,000 bitcoins, blockchain enthusiast platform Jutuilian announced Feb. 18, igniting online speculation that Ding might just be this mysterious purchaser.
Ding participated in the early funding of U.S. blockchain company ArcBlock early last month, and will serve as the firm's project consultant, NetEase reported.
Bitcoin prices stayed on their rollercoaster ride over Spring Festival. Before the holiday, the cryptocurrency's cost plunged to USD6,000 on Feb. 6 before a strong recovery that saw it nudge USD12,000 yesterday, almost doubling in half a month.