Grayscale CEO Bearish for 2022 - Are Whales Buying the Dip?

The Grayscale CEO has declared he is ‘sounding the alarm’ but sounding the alarm on what exactly?

By
Robert D. Knight
on
January 9, 2022
Category:
BSC News

Bearish On….Stocks?

Barry Silbert, the Founder and CEO of Grayscale, has declared that he ‘sounding the alarm’ in 2022, leading some to believe that he is bearish on crypto. It appears, however that the c-level executive is actually bullish.

The initial tweet from Silbert, which caused all of the confusion, was particularly ambiguous.

“Yes, I'm going to be the guy in 2022 sounding the alarm,” said Silbert in the opaque tweet dated January 7. 

Popular crypto investor and influence Lark Davis responded, “The CEO of the Digital Currency Group (Owns Grayscale) is bearish... I call psyops! Whales want your BTC cheap.”

Davis has fueled speculation that crypto whales are depressing the market to scoop up more bitcoin. The investor presumably thought that it was bitcoin on which Silbert sounded the alarm, but in a later tweet Silbert went on to clarity:

“I'm bearish on stocks, fixed income and real estate. I'm bullish on bitcoin, privacy tokens and a small number of other cryptos. Stay out of debt, stay liquid.”
Source

Crypto Wars

While Silbert may be confusing crypto twitter with his mixed messages, there seems to be little confusion about crypto on Wall Street. 

According to an article in the Financial Times on January 5, the battle for trading supremacy is heating up with companies such as Alameda Research, B2C2, Cumberland, and Genesis Trading leading the way.

New crypto companies and legacy financial players are now battling to establish crypto dominance.

“Established firms from traditional finance are entering the crypto trading space more and more, that’s because they’re attracted by the likewise increasing volume and opportunity set in the space,” Sam Trabucco, Co-CEO of Alameda Research, told the FT on January 6.

With the price of BTC hovering at $41,000 whales now have the opportunity to scoop up more bitcoin at price lows.

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Robert D. Knight

Robert D. Knight is an experienced journalist and copywriter who has been working in crypto for 4+ years. His bags are heavy in ETH and BTC, plus he also hodls some smaller cryptocurrency.

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