Long Bitcoin and Short Bitcoin Cash to Benefit From Mt. Gox Repayments: Trader

Long Bitcoin and Short Bitcoin Cash to Benefit From Mt. Gox Repayments: Trader


Presto says a market-neutral strategy to profit from the Mt. Gox repayments by betting on bitcoin strength and against bitcoin cash. The strategy stems from the supply/demand dynamics for BTC and BCH due to the distribution of assets worth billions of dollars.

Singapore-based trading firm Presto Labs is suggesting clients bet on bitcoin (BTC) strength and against bitcoin cash (BCH) in a market-neutral trade to profit from the ongoing Mt. Gox repayments.

Hundreds of millions worth of BTC hit the market last week as defunct exchange Mt. Gox finally began its long awaited repayments to creditors impacted in a 2014 hack. Over $73 million

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