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Yeah, this seems like weird erratic behavior. I mean if you are raising a big fund for bitcoin and you think it's going to drop, that's good for yoi because yo
by vasilipupkin 9y ago
Yeah, this seems like weird erratic behavior. I mean if you are raising a big fund for bitcoin and you think it's going to drop, that's good for yoi because you can buy it cheaper. And if you are not a bitcoin bull, why raise a fund in the first place? Something is up with this guy
- vm 9y agoHe could be massively shorting it and using negative press to panic retail investors into selling, driving down prices further (and increasing profits on his short). Not uncommon for public equity hedge funds. Makes sense that someone would do it in the wild west of cryptocurrencies.
- vasilipupkin 9y agoHe could, but if he is telling prospective investors one thing and doing another, that's a recipe for legal problems
- matwood 9y agoIIRC, BTC has gone from ~$3k to it's current levels from the time when he first mentioned starting a hedge to fund to when it was supposed open last week. Typical financial instruments have a hard time keeping up with the current crypto volatility.
- iwcmarkxviii 9y agoActually not that erratic. he doesn't have enough stake in BTC or ETH to make massive market movements. he's wants to drive the price down to buy more and the only way is through his position of "influence." BTC will make a massive rebound in 2018. I'm sure a lot of BTC bulls have full knowledge of this possibility and are acquiring as many as possible.
- vasilipupkin 9y agoYeah, but then why shut the fund ?
- 659087 9y ago> BTC will make a massive rebound in 2018 ... > I'm sure a lot of BTC bulls have full knowledge of this possibility