Good point. Also Cathy Wood suddenly buying more $COIN and $GBTC seems like similar forces at play. Many are caught off guard and seem to have lost big on paper
They are all trying to frontrun the next boom cycle in hopes of having good returns for 2023. Their returns for 2022 are garbage. Can you imagine giving ARK 1% of your wealth as payment for them losing 60% of your wealth? Their hope is that the fed cuts rates in early 2023, and that causes a ton of money on the sidelines to come back into the market into speculative assets.
Cathie Wood is another version of SBF. She has repeatedly said stuff that is obviously false. Even worse, she has actually demonstrated that her staff also have no idea what they are doing.
It isn't possible to go full-FTX with a long-only fund...but there is further downside.
