Trading firm of richest crypto billionaire reveals buying 'a lot more' Bitcoin below $30K

Trading firm of richest crypto billionaire reveals buying 'a lot more' Bitcoin below $30K


Bitcoin’s (BTC) painful plunge below $30,000 on Tuesday turned into a so-called “buy the dip” opportunity for Alameda Research, a Hong Kong-based quantitative trading firm and liquidity solutions firm headed by FTX-famed Sam Bankman-Fried.

The company’s quantitative trader Sam Trabucco revealed late Tuesday that they purchased Bitcoin during its latest price decline, adding that their cautious strategy to go long BTC/USD surfaced out of at least three “recovery” catalysts: a potential end to the ongoing crypto FUD (China ban, Grayscale epic unlock, etc.), stock market’s intraday recovery, and weaker long liquidations in the derivatives market.

“In my view, all these points [to] a similar (if vague) direction,” Trabucco wrote.

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“News impact tends to revert? I’d expect crypto to rally more. Stock market *did* revert? I’d expect crypto to have reverted more, too. Liquidation moves usually revert? Same story.”

And all these led to Alameda doing what we do best — buying a LOT more over the past day or so. This

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