5 ms·

What is your reasoning behind this?

• monero-xmr 4y ago
  The hole is worst-case around $500 million. SVB will be liquidated and Circle will see the majority of their money back. They make 5% in interest on $40 billion in assets so they can cover this hole in a quarter. They also have significant backers and the ability to raise money. Short term FUD. I have been buying all the way down to 88c and am already in the money so I’m financially incentivized to convince readers here. But this is just unwarranted panic.
  • relyks 4y ago
    Thanks for the response. I had similar reasoning. I bought at 90 cents. I figured the worst case scenario would be that the 8% assets missing from SVB would stay gone, which would make USDC valued at 92 cents. I also figured they would make interest on their t-bill assets, so this would definitely be a good long position
  • m00dy 4y ago
    I got around 8% profit in 8 hours. That's enough for me.