Grayscale CEO bets $1 million on FTX to short Dogecoin, WSB: Don't push us
At 12:38 AM on May 9, Barry Silbert, the founder of the parent company of Grayscale and DCG Group, tweeted: "DogeCoin is coming into its own, we're in for an interesting time. Welcome to the world of cryptocurrencies." He continued:
But now is the time to convert your Dogecoin into Bitcoin.
He mentioned that he has already placed a three times short position on Dogecoin on the FTX exchange https://ftx.com/trade/DOGEBEAR2021/USD
Advertisement - Please scroll down for more
Okay $DOGE peeps, it's been fun. Welcome to crypto!
But the time has come for you to convert your DOGE to BTC
[disclosure: we've gone short DOGE via https://t.co/s8Qde2Ub4Z]
— Barry Silbert (@BarrySilbert) May 8, 2021
Table of Contents
WSB Comes to Taunt
The well-known leader of the U.S. stock market retail short-selling community, WSB Chairman, responded, "Don't make us treat you like this."
One Million Dogecoin Proceeds Will Be Donated to Charity
Barry Silbert stated that he has invested one million U.S. dollars. This is a gamble for him, and if he wins, he will donate to charity. He welcomes people to join him in this endeavor.
Dogecoin Drops Over 20% in 24 Hours
Although Barry Silbert's issuance of short positions did not bring too much decline to Dogecoin, overall, Dogecoin has dropped by 24% in the last 24 hours. Musk has now ended his performance on SNL, mentioning Dogecoin, but there was no provocative ad-lib performance.
Related
- Meng Yan: The bull market has begun, A-shares are just the beginning, the altcoin season will depend on the outcome of the US election.
- Bitcoin's sharp drop not over yet? 10x Research warns of two potential downturns in the coming week
- In-depth investigation of the Chinese cryptocurrency market: From trading habits and MBTI to popular trends, revealing the true Chinese-speaking crypto community.