Frozen bacon+water bag+fridge

I have a pack of Irish back bacon that was frozen. I put it in a plastic bag with cold water (the bacon package itself was completely sealed, I'm fairly certain water did not get into the bacon), and then put the water bag in the fridge for 24-ish hours.

I read online that you can thaw bacon overnight in the fridge OR put it in a cold water bath for a few hours on the counter, but that it is unsafe to thaw a package in cold water in the fridge at the same time.

I'm not sure why that would be the case- the water stays cold for the whole thing, and if it's safe to be in the fridge not in cold water, why would it be less safe in cold water? But there's a lot I don't know, so if anyone has any insight into how bacteria grows on meat and temperatures and all that.....please help.