“A couple days ago I helped set up a 200k btc transaction for Chinese buyers. … Soros etc are coming in, we will now see the start of the real bubble.”
George Soros, the billionaire investor who called cryptocurrencies a bubble in January, was said last week to have authorized his $26 billion family office to trade digital assets.
The spike caused short sellers to close positions, “spurring a waterfall of buy orders,” said Miguel Schweizer of cryptocurrency hedge fund Quantia Capital.
Bears had amassed record shorts of more than 38,000 Bitcoin as of yesterday on trading platform Bitfinex, according to data compiled by TradingView. Short positions plunged to about 25,000 Bitcoin Thursday.
Evercore ISI’s Rich Ross says Bitcoin looks attractive after its hike.
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