Wall Street and institutions short on Bitcoin? Who cares, Bitcoin doesn’t. To think that Satoshi’s vision hinges on Wall Street or god forbid, the bankers – Bitcoin is going to be more than just fine. Here’s the article that sparked me to even mention this but then writers like Nick Chong who have to pump-out content for several sites daily gotta draw from all wells

Institutions Have Never Been More Short on Bitcoin Futures Than They Are Now

“Bitcoin has been surging higher over recent weeks and months. The cryptocurrency has done so well, in fact, that it is actually the best-performing macro asset of the year — unless you count Ethereum as one.

BTC’s rally this year has caught the attention of many on Wall Street. Paul Tudor Jones, the billionaire hedge fund manager, went public with his stake in the cryptocurrency this year. Others, too, have followed suit.

But according to data from the CME, where most institutional traders actually transact Bitcoin (or at least derivatives), much of Wall Street is currently short.

…Not everyone on Wall Street or relate to Wall Street is bearish on Bitcoin, though. Far from.

As aforementioned, Paul Tudor Jones, a legendary macro investor, is bullish on Bitcoin.

There are also individuals like Raoul Pal, the former head of Goldman Sachs’ European hedge fund sales division, that is optimistic about the asset. Pal wrote just the other week that he thinks Bitcoin is the best trade in existence:

‘In fact, only one asset has offset the growth of the G4 balance sheet. Its not stocks, not bonds, not commodities, not credit, not precious metals, not miners. Only one asset massively outperformed over almost any time horizon: Yup, Bitcoin… These are all INCREDIBLY BULLISH long-term chart patterns. The probabilities in the charts suggest that Bitcoin is likely set to be the best performing major asset in the world over the next 24 months and by a big margin.’”

https://www.newsbtc.com/2020/08/23/institutions-have-never-been-more-short-on-bitcoin-futures/