iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
17,993 Blog Posts

Citron Says Bitfinex Could Be The Next Lehman of Bitcoin; Announces Short of $GBTC

In light of the world’s largest crypto exchange, Bitfinex, threatening legal action against critics talking shit online, Citron just tweet they’d cover the legal expenses of bloggers who voiced their opinions. The issue is their relationship with Tether, another crypto that has been rumored by many to be nothing less than a god damned fraud.

Here’s the scoop.

Related: Citron tweeted out they are now short GBTC at $1,800.

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10 comments

  1. tmmdn0

    How the fuck can they be short GBTC?
    The Thinkorswim platform shows NTB (none to borrow).

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    • tonka

      Some brokers are a lot better at borrows than others.

      That being said, shorting $GBTC without any NAV premium involved is absolute insanity.

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    • boyaj

      Can you buy puts on it?

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      • tonka

        No

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      • sarcrilege

        Soon.

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      • bespokesuit

        Derivatives on BTC will be fun as hell.

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      • numbersgame

        Whatever your feeling on BTC, the option market will be for suckers. Even if it was *fairly* priced, that price would be based on volatility. I’d say volatility is pretty high, wouldn’t you? There will be people holding puts that still won’t pay out when bitcoin loses 50% of it’s value.

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        • numbersgame

          That is *buying* options is for sucker. A completely awesome play would be covered call writing (buying and holding BTC and selling calls).

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  2. newkid

    Boyaj when will you blog again? You should at least stop by to drop a pdf or two out of your library once and awhile.

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  3. mad marsupial

    You can buy 1 ounce Gold plated Bitcoin on Amazon for $6.99.

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