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Comment by tppiotrowski | Hacker News Reader

How can one profit from a crypto bubble? I’ve heard of an ETF for shorting Bitcoin but never saw any specifics. Can anyone provide a reputable brokerage for shorting crypto currencies?

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short sell MicroStrategy (mstr), they are pegged to crypto because they decided to hold large amounts of crypto as a corporation

New crypto ETF is also right around the corner. There will definitely be futures on that.

The ETF is based on the futures, which have existed for years.

> MicroStrategy invested ... in Bitcoin as a treasury reserve asset ... [and] has spent over $2.2 billion purchasing Bitcoin [0]

WTH? Why does a company with a $7b market cap need over $2b of "treasury reserve assets"?

[0] https://en.wikipedia.org/wiki/MicroStrategy

You don't need an ETF for that, you can directly short any crypto at many exchanges. To profit from the short you should obviously time the market well.

If Tether implodes, strong risk those exchanges do too. Massive counterparty risk.

Got it. In that case, you can short $COIN. I wouldn't recommend it for another 3-6 months though.

I’ve lost all faith in my ability to time this lol. It has to come down someday, and the bigger it gets the harder it falls. But Tether has a remarkable ability to kick things down the road so far.

Nobody really has such faith, if you can time the market, you've invented a money printing machine :)

Buy puts on the new Bitcoin ETF that launched today (BITO)

LedgerX.

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