JPMorgan Chase's Secret Move

Source: Liu Jiaolian

The early summer is better than spring, and the mountains are green without you noticing.

Just when BTC (Bitcoin) was still above 60k and below the 30-day moving average of 63.3k and could not rebound, according to Bitcoin Magazine, many US companies or institutions have increased their positions in Bitcoin spot ETFs. These institutions include: Wells Fargo (Wells Fargo) - holding Grayscale GBTC, Rubric Capital Management (Rubric Capital) - holding BlackRock IBIT, Edmond de Rothschild (Rothschild Bank) - holding BlackRock IBIT and Grayscale GBTC, JPMorgan Chase (JPMorgan Chase), one of the largest banks in the United States - holding BlackRock IBIT and Bitwise BITB, etc.

Insert a sentence, this Wells Fargo was a heavy holding of Warren Buffett. But in 2022, the old man still decisively cleared his position.

"In 2009, Buffett publicly stated: "If I were to invest all my net worth in one stock, it would be Wells Fargo."

"In the first half of 2022, Buffett sold all his Wells Fargo shares."

It can be seen that real investment tycoons always adapt to the times and will never be fettered by the human weakness of "keeping promises". Therefore, Jiaolian has always advised everyone not to believe in big names, great gods, big Vs, KOLs, XXOOs, and monsters.

"Don't participate in popular projects recommended to you by others.

"Don't seek investment advice from others. You can't hold on to advice without logic and belief.

"Blockchain should operate independently of external credit. Don't trust anyone.

"Don't listen to investment advice given to you by anyone. Including me."

What's worse, they will "reverse shout orders."

Usually, "shouting orders" means singing long after building a position or going long, seeking to attract more people to buy in order to pull up the market and make their own positions profitable; singing short after clearing a position or going short, hoping to intimidate more people to sell, so as to suppress the market, so that their short orders can be profitable, or create opportunities to buy at the bottom.

And "reverse shouting" means singing short before preparing to build a position, in order to create panic selling in the market and obtain a lower and better entry price; or singing long before preparing to liquidate the position, in order to deceive more people to come to take over, so that there is sufficient liquidity to ensure that the shipment is at a higher and better price.

A long position may not necessarily be long, especially if he still hopes to continue to increase his position to increase his holdings. He is likely to make a confusing "reverse shouting" move and sing short to see if he can scare other BTC buyers who are trying to compete with him.

Teachchain has introduced a similar view from Michael Goldstein:

"In fact, hoarders may be the most dangerous liars. ... A person can prove they own Bitcoin through a private key, but they cannot prove they don't have (Bitcoin). With this in mind, it seems reasonable that any loudly vocal skeptic's bold assertion is actually a scam, an attempt to influence market demand, and thus price, in their favor.

"Hoarders are liars because they understand Bitcoin's (very likely) exponential growth potential, but are willing to convince other Bitcoin holders by any means necessary that the future value to them may not be much higher than the current market price."

In other words, someone who publicly sings short BTC all day may not be a true short, but may just want to trick you into abandoning your BTC so that he can pick up leaks at a low price.

Suppressing the market = I want to increase my position!

This is exactly what JPMorgan Chase's inconsistent words and deeds are like.

As we all know, the CEO of JPMorgan Chase often speaks negatively about BTC in public. The most recent exaggerated expression can be found in the article "JPMorgan Chase CEO: Satashi will appear again and delete all Bitcoins" on January 19, 2024.

The CEO's original words in front of the TV camera: "I think it's very likely that when we get 20 million Bitcoins...Satashi [the original words] will appear there, laugh hysterically, and then calm down, and all Bitcoins [will] be erased. How do you know it will stop at 21 million?"

Friends who know a little about the principles of Bitcoin are probably going to laugh at his brain-opening remarks.

JPMorgan Chase once introduced the argument that BTC is bearish. 42k, is this the position it hopes to enter the market to increase its position? If it sings like this, will the market fulfill its wish and reverse to pick it up?

It seems that according to the data disclosed by JPMorgan Chase to the SEC, it did not wait foolishly for the so-called 42k, but increased its position in the Bitcoin spot ETF early.

This trick of making a feint to the east and attacking the west, secretly crossing the Chencang Pass, was also cleverly used by JPMorgan Chase.