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Trading firm Of Richest Crypto Billionaire Reveals Buying ‘A Lot More’ Bitcoin Below $30K

By CDM Staff

July 21, 2021

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Alameda Research, headed by Sam Bankman-Fried, whose net worth lately has reached over $8 billion, has upped its Bitcoin buying around its key psychological support of $30,000.

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 CEO and founder Sam Bankman-Fried.

Quantitative trader Sam Trabucco revealed late Tuesday that the company purchased Bitcoin during its latest price decline, adding that the company’s 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.), the stock market’s intraday recovery, and weaker long liquidations in the derivatives market...

To read more visit CoinTelegraph.

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CDM Staff

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