Bitcoin Whale Shorted $1.1B Right Before Tariffs

[jazzyjackson]

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.

[jiggawatts]

As someone looking in at the USA from the outside, it absolutely blows my mind that the country went from “give up the peanut farm” to this: https://en.wikipedia.org/wiki/$Trump

Like… what!?

I have no words.

[anon191928]

wait until you learn about where $trillions went in last decades of war.

[1oooqooq]

they would have profited anyway. be it stocks or forex. using btc only makes it public i guess?

[pants2]

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%.

[Gigachad]

There can’t be that many people with $10B in bitcoin. Surely someone can work out who this is?

[jijijijij]

I hope they lose it all to some teenagers getting kicks on discord.

[gautamcgoel]

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?

[energy123]

It helps to not be too academic about it and just check what happened to BTC the last few tariff announcements.

[rhyperior]

If only BTC were a decorrelated, alternative investment.

[pfannkuchen]

How do tariffs depreciate the dollar? Do you just mean in the “prices go up” sense? I’m not trying to nitpick, just wondering if there is some mechanism I don’t know about that actually devalues the dollar in a fundamental way. Like if there is a chicken flu and the price of eggs skyrockets, I wouldn’t say that depreciates the dollar, for example, in strict terms, prices have just risen.

[Finnucane]

Why would you expect anything with BTC?

[jwpapi]

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.

[luxuryballs]

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.

[w10-1]

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.

[junto]

I wouldn’t be surprised if people connected to the Chinese government are not also taking advantage of the fact that Trump is extremely easy to trigger, manipulate and predict.

[Finnucane]

it’s hard to believe anyone in this administration would something so blatantly corrupt.

[jackmalpo]

it's not hard*

[bentt]

It was Bernie. He's had enough of this horseshit.

[dmitrygr]

Expect to read about it here soon: https://www.quiverquant.com/congresstrading/politician/Nancy...