Scan to Download Gate App
qrCode
More Download Options
Don't remind me again today

Is This Stock Becoming the Preferred Hedge Against Crypto Losses?

robot
Abstract generation in progress

Source: CryptoNewsNet Original Title: Is Strategy Stock the Preferred Hedge Against Crypto Losses? Tom Lee Thinks So Original Link: https://cryptonews.net/news/finance/32029660/ According to Tom Lee, chairman and CEO of Bitmine, a certain stock has become the go-to tool for crypto investors trying to manage risk, partly explaining its 43% drop over the past month.

“[This stock] is probably the most important stock watch right now, because that is the bitcoin proxy, it’s the most liquid name,” Lee said in an interview with CNBC on Thursday.

With limited options to hedge losses directly in crypto markets, institutional traders have turned to shorting shares of this company instead. The company holds nearly 650,000 bitcoin, making its stock price closely tied to bitcoin’s performance.

“It seems to me that in the crypto world when they’re trying to hedge their loss in bitcoin and ethereum they can’t find any other way to hedge it except shorting the liquid stocks that it proxies,” Lee said.

BTC2.16%
ETH0.59%
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 7
  • Repost
  • Share
Comment
0/400
DeFiVeteranvip
· 12h ago
Is Tom Lee hyping things up again? I have to question everything this guy says...
View OriginalReply0
RooftopReservervip
· 11-22 18:49
Tom Lee is at it again, I've heard this trap speech ten times already.
View OriginalReply0
OnchainUndercovervip
· 11-22 18:47
Here it comes again, the old trick of trap hedging 🙄
View OriginalReply0
zkProofGremlinvip
· 11-22 18:45
Well... Tom Lee is here again, trying to show us the "right path" every time. Is it stocks this time? Hilarious.
View OriginalReply0
EternalMinervip
· 11-22 18:38
Speaking of Tom Lee, he's hyping things up again, talking about hedging tools and all that... I just want to know if this guy actually holds any positions himself.
View OriginalReply0
NFTPessimistvip
· 11-22 18:38
Come on, are they trying to trick us into buying stocks again? I'm tired of Tom Lee's trap.
View OriginalReply0
ChainSherlockGirlvip
· 11-22 18:22
I just said that Tom has started telling stories again. The data shows when stocks can start hedging against the big dump in the crypto world? According to my analysis, this logical flaw is huge. Which stock is so magical? 😂
View OriginalReply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)