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Eric Weiss: Conviction

The Bitcoin Matrix

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Is Bitcoin a Hedging Tool in the Bear Market?

Hedge funds are using Bitcoin as a hedging tool to protect their investments. They can't sell Bitcoin unless they own it, so they have to borrow it in order to sell it. The deleveraging of the industry and all these guys blowing up is actually really good because people are not loaning out their Bitcoin for yield so much anymore.

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