Michael Purves, CEO of asset management firm Tallbacken Capital Advisors, said that he has been on the short side of Bitcoin (BTC) since January and will not change his position.
Bloomberg’s 30 August on in his interviewPurves company on Bitcoin 15,000 with dollar target in short position stated that. Long-term towards the end of January of the uptrend Purves, who stated that the He said he didn’t expect.
Famous CEO at Bitcoin 2021 of the rally, Corporate investors’ Bitcoin store of value seeing it as bulk purchase He said it was because of what he did. Purves, on the other hand, 69,000 about the summit 70% as Bitcoin’s store of value questioning the nature started, if it drops a little more, the institutional may exit the market. expressed.
Another negative thought of Michael Purves about Bitcoin is that a Bitcoin as a portfolio diversification tool was use. Michael, Bitcoin with indices contrary to what is believed or launched highly correlated He stated that for this reason, it does not work as a portfolio diversification tool. In addition, due to the fact that Bitcoin cannot carry two important features, in the coming days institutions may change their position. also claimed.