Expect to read about it here soon: https://www.quiverquant.com/congresstrading/politician/Nancy...
Bitcoin Whale Shorted $1.1B Right Before Tariffs
21–30 of 53 posts
Re: Bitcoin Whale Shorted $1.1B Right Before Tariffs
#22Earlier quoted context omitted.
That's not what happened. What they said is that it was definitely a violation, there did not appear to be a chargeable crime.
Regular people get charged for that level of violating regulations around classified information. They also get charged for having classified information in their bathroom or in their garage.
People like our current President. And former president. And former CIA director.
It seems like lots of high level officials are being irresponsible in handling condfidential information.
Either the rules are counter-intuitive, or difficult to follow, or officials are highly incentivized not to follow them.
But for some reason, lots of them aren't.
It makes public accountability very difficult.
Re: Bitcoin Whale Shorted $1.1B Right Before Tariffs
#23Earlier quoted context omitted.
they would have profited anyway. be it stocks or forex. using btc only makes it public i guess?
Stocks are public. There's a been a lot of people doing moves ahead of other tariffs announcements.
Bitcoin is arguably more public than stocks - all transfers are publicized. Transactions on major stock markets are publicized, but private transactions are not.
Re: Bitcoin Whale Shorted $1.1B Right Before Tariffs
#24I'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?
Why would you expect anything with BTC?
Re: Bitcoin Whale Shorted $1.1B Right Before Tariffs
#25So 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.
Re: Bitcoin Whale Shorted $1.1B Right Before Tariffs
#26I 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.
Re: Bitcoin Whale Shorted $1.1B Right Before Tariffs
#27Worth 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%.
There can’t be that many people with $10B in bitcoin. Surely someone can work out who this is?
Re: Bitcoin Whale Shorted $1.1B Right Before Tariffs
#28I'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?
Why would you expect anything with BTC?
Hating on Bitcoin was cool in 2015. It’s proven to be a reliable store of value asset, to the point that central banks are considering reserves on it.
Bitcoin maybe as useless as gold, but that doesn’t make it more or less valuable.
Re: Bitcoin Whale Shorted $1.1B Right Before Tariffs
#29It 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.
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