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21 sats \ 1 reply \ @tomlaies 27 Jul \ parent \ on: My Fantasy bitcoin
You specifically said
derivates to hedge their bitcoin positions
Was this a mistake? That would be okay when you meant to write "speculation" instead. Or are you talking out of your ass without basic understanding of the topic?
What Blackrock and Grayscale do is holding Bitcoin on behalf of customers and extract a margin. They don't care about Bitcoin price - they extract this margin no matter at which price. It would be very weird to own dervatives to either speculate or hedge something here.
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21 sats \ 0 replies \ @siggy47 OP 27 Jul
You're right. I did write hedge. Regarding speculation, that would be unlikely with the big custodians. This was not meant as a seriously thought out post.
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