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Bitcoin’s supply shock is coming, says multibillion-dollar investment manager By BTC Peers

© Reuters. Bitcoin supply shock is coming, says multi-billion investment manager

A supply shock could be imminent, according to Troy Gayeski, co-chief investment officer and senior portfolio manager at SkyBridge Capital.

Gayeski told Bloomberg on Monday that the on-chain signals suggest that Bitcoin’s “hodlers” have resumed accumulation with the intention of holding the flagship currency for a long time. He felt that these Bitcoin supporters are gobbling up the assets of speculators who entered the market at record prices. According to him:

When we look at the channel right now, the data, what basically tells you is that a lot of strong holders are reasserting themselves and building up from those who entered the market at the end of last year. . And that he is preparing for some type of supply shock, very similar to what we had last October / November.

In mid-May, Bitcoin hit a new all-time high of nearly $ 65,000. However, the major crypto has since crashed into the $ 30,000 region and is struggling to recover previous highs. Gayeski said Bitcoin will always be “a volatile asset”, but its “risk-reward is now skewed upwards again”

Meanwhile, SkyBridge Capital, a hedge fund with $ 7.5 billion in assets under management, is still bullish on BTC. Gayeski said the company pulled back a bit before the stock market crash and reallocated some of the funds to.

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