Īž huf Profile picture
Jan 11, 2022 ā€¢ 6 tweets ā€¢ 3 min read ā€¢ Read on X
FARMING UPDATE: 11 January 2022.

Really nice uptick in the portfolio this morning driven by 3 high conviction plays. See thread below šŸ§µ

$1.64m / 531.2 ETH Image
1. We've been adding to $SCREAM, xSCREAM, and FTM-SCREAM LP at $60ish the past 48 hours (now $94). This has netted us over 12 ETH in profits. ImageImage
2. We have been building and staking a position in $CREDIT for the past 48 hours, average entry $2.29 (now $5.53). This has made us another 5 ETH. Staking APY is currently 241.88% APY Image
3. We bought a lot more $BTRFLY at $1984 yesterday as outlined in real-time on my feed. It was too good an opportunity to pass on and is so far +28% inc. rebases. This has added another 3 ETH to the portfolio. Image
Overall, the only portfolio laggard has been $NEWO, which we had previously booked profits on at $1.24 and then decided to re-enter lower:

Still quite defensively placed but hopefully, the 3 plays above highlight our ability to take strategic plays with remaining stables during periods of heightened volatility whilst the rest of the portfolio is positioned for stability. Image

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More from @hufhaus9

Nov 17, 2023
wtf does this mean? and will it impact the price of $BTC?

some thoughts below...
1. If you, as a retail buyer want to buy $IBTC (the iShares spot bitcoin ETF), then you'd go to your broker/online platform and swap your $ for shares in the ETF. The broker would go and buy the shares on the exchange (Nasdaq) on your behalf. Easy. Image
2. This is what we call the 'secondary' market. The shares already exist, and you can buy them at the market price. But what if there are no ETF shares available in the secondary market?
Read 14 tweets
Jun 26, 2023
These are the key dates and timeline for the BlackRock Spot Bitcoin ETF

This is how I'm positioning over the coming weeks...
Recap: Grayscale sued the SEC last yr for not letting them convert GBTC to a spot ETF

The court decision is due out any time in the next few wks/months (the clock is ticking) and paves the way for a potential spot ETF *if* successful

BlackRock filing now is NOT a coincidence.
Let's talk dates and trading.

June 26-30: $BTC market has quite a lot of option OI expiring this Friday.

View: Chop, with looming Binance headline risk.

Positions: flat w/ stink bids between $28.4 - $29.2k due to long liquidations and/or ARK/21shares ETF rejection.
Read 6 tweets
Jun 25, 2023
People don't really understand what Blackrock is, or what they do.

So let's go inside...
But first a little about their founder and CEO Larry Fink, since it will be important later
Larry joined Wall St in 1976. He was smart and made money. He pioneered the idea of debt securitization (packaging up different loans as bonds). He then ran the trading desk for those Mortgage Backed Securities (MBS). Yes, those bonds that led to the 2008 GFC šŸ¤Æ

*smiles*
Read 26 tweets
Mar 12, 2023
Bull and Bear Scenarios (in fictional quotes):

šŸ‚

"SVB depositors will be made whole" - FDIC/Treasury

"We have received the full $3.3bn" - Circle

"Due to recent events in the banking sector, we felt it was prudent to postpone this month's planned rate hike to April" - Fed
šŸ»

"50% 'advanced dividend' for uninsured depositors, rest later" - FDIC

"People were trading USDC in anticipation of profits, and thus it's a security" - Gary Gensler

"They are bailing out Big Tech and Silicon Valley with your money!" - Donald Trump

"Long" - Jim Cramer
There's also "SVB has been acquired by XYZ bank" šŸ‚

I'm positioning for a squeeze higher. Buying $1500 strike 17 March 2023 expiry calls at 0.02 ETH ($29) per option
Read 5 tweets
Mar 11, 2023
Jamie Dimon's tradeoffs? (or any other major bank CEO)

+ve: buy SVB, apply discounts to the assets, limit withdrawals upon re-opening, perhaps bail-"IN" depositors (everyone takes a little %hit), get trading desk to make money managing the longer duration stuff
+ve: agree with Fed that rates will be capped so that they can slowly unwind the longer duration book and/or agree with Treasury/Fed to buy those assets from them directly
-ve: but higher rates have actually been good for JPM (and most strong banks) as it grows the net interest income on their loan book
Read 7 tweets
Mar 11, 2023
so many bad takes here on CT.

- Circle foolishly put 8.25% of its USD reserves ($3.3bn/$40b) in a niche bank

- now Circle don't have access to those funds as SBV is technically "insolvent"

- i.e. SBV don't have enough cash or assets on hand to honor all requests for USD
- On Monday the insured portion of SBV deposits will be available to depositors (up to $250k)

- For the rest, you have a few options:

1. A big bank buys out SBV and assumes the liabilities (needs to be soon)

OR
2. A process begins where FDIC will have to start selling the assets (bonds) to make creditors whole. The current gap is $1-3bn. To meet [short-term] liquidity needs of these creditors, FDIC can issue "advanced dividend" for a portion of the amount (%tbd)
Read 15 tweets

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