It makes me want to riot that we've allowed the presidents whole family to leverage their wealth on Bitcoin, its such an outrageous conflict of interest, literally with a few million up front you stand to become unbelievably wealthy by yanking the USD's reserve currency status.
Real monkeys paw action here tho because I always liked the idea of BTC as a viable alternate to USD, but, not like this.
Worth noting that this whale has/had $10B worth of Bitcoin. So his $27M in profits is a whopping 0.27% gain while the rest of his portfolio dipped 10%.
I'm confused: why would you short BTC if you knew in advance that additional tariffs would be announced? Wouldn't you expect that to increase the dollar value of BTC due to depreciation of the dollar?
So if the government itself is the one holding the bitcoin then you can bet it won’t investigate itself… and a few billion in bitcoin wouldn’t even go very far if they tried to use it as a funding source which is wild to think about.
I think Occams Razor. Here I think it’s way more likely that the person who holds 10B in Bitcoin somehow by now has contacts to the inner circle of US government as being someone in the administration.
I'm grateful to those tracking and publishing this information, but as smoking guns go, the evidence doesn't seem particularly compelling.
China announced their rare-earth restrictions on 10/9. Trump predictably over-reacts with tariffs on 10/10. The trader had plenty of reason to expect new tariffs, and some reason to expect Bitcoin to go down.
If I were corrupt, I'd always make sure there was some justifying event in advance of my trade, even if I knew there was to be some precipitating event for a market swing. Plausible deniability.
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[ 3.0 ms ] story [ 29.2 ms ] threadReal monkeys paw action here tho because I always liked the idea of BTC as a viable alternate to USD, but, not like this.
China announced their rare-earth restrictions on 10/9. Trump predictably over-reacts with tariffs on 10/10. The trader had plenty of reason to expect new tariffs, and some reason to expect Bitcoin to go down.
If I were corrupt, I'd always make sure there was some justifying event in advance of my trade, even if I knew there was to be some precipitating event for a market swing. Plausible deniability.