Can I get a non-wonk explaintion of the implications here?
Trump is suspected of manipulating the stock market with his addresses. Says things will go badly, so the market goes down. You can bet that the stock market will go down, and if correct, make money.
Someone bet Bitcoin would go down before Trump’s recent speech that caused a market downturn. That person is now increasing the bet that Bitcoin will go down, and we don’t know why. That person could have insider information, or that person could be making an awful bet.
Nobody is throwing half a billion dollars at an awful bet.
You have more faith in humans than I. Smells like a gambling addict to me.
If it isn’t, it’s another orchestrated redistribution of wealth.
Something that out of sorts is exceptionally bizarre given the timing and the way things have been manipulated already.
This is insider trading.This account gambled with bitcoin and ethereum, placing shorts every few minutes to increase how much money he was throwing on the blackjack table, up to around 80 million u-bucks, with the last one placed in the same minute as the trump post which tanked the crypto value, which immediately doubled the value of his shorts and he closed them out and walked away with 190 million. Someone close to trump is using crypto to do what would be illegal in the stock market, and is betting on trump triggering the end of the bull run and will make billions of dollars.
I have a small amount of crypto I bought years ago to just hang on to. It’s doubled in value this year, this post make me think I should sell it…