Just when I thought institutions were climbing aboard for real... smh

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It’s a hedge for the pass through trade with GBTC. They buy GBTC at NAV, hedge with CME, then after 6 months and it unlocks they sell the GBTC for its premium over NAV and release their CME hedge.

likesmart

Not to mention that $1b short is literally nothing for Bitcoin. It represents a lower short ratio than Microsoft.

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Oh man literally the dumbest short you can make

likefunny

In the grand scheme of things, $1B short doesn’t seem like a huge position - I mean microstrategy is long BTC more than $1B in their treasury, and that’s nothing compared to grayscale.

Would be great if wsb set their sites on that though!

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funnylike

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It’s will be curious to see who is buying here, vs wondering about “no dips” later on

Just saying... 🤷🏾‍♂️

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likesmart

Send it 🚀

likefunny

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