An Infamous Bitcoin Whale Just Resurfaced — and He’s Got a Bone to Pick

An Infamous Bitcoin Whale Just Resurfaced — and He’s Got a Bone to Pick

In May, after constructing a following of tens of 1000’s by making tens of millions buying and selling Bitcoin, “Joe007” threw within the towel. At the time, the pseudonymous dealer cited his incapacity to “afford Twitter.”

“Trading is a harmful, adversarial, high-stakes data recreation. It’s performed towards best-in-class, on the lookout for any benefit. Your commerce outcomes and views being public offers them an excessive amount of benefit over you,” the “whale” wrote, discussing how the knowledge he gave on Twitter might have an effect on his profitability. 

So he left, and that was that. Until it wasn’t.

On June 28th, the Bitcoin dealer returned. And he’s already begun to select fights with some segments of the cryptocurrency neighborhood.

Ah, what the hell. Let's have some extra enjoyable.

— ʲᵒᵉ007 (@J0E007) June 28, 2020

Bitcoin’s Most Famous Whale Is Back

The attract of Crypto Twitter was too sturdy for even a devoted dealer like Joe007. The dealer, who makes dozens of tens of millions monthly as per Bitfinex’s leaderboard, returned after 50 days away.

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And he isn’t pulling any of his punches.

His first job was to name out “degenerate crypto-gamblers and S2F cultists.” The stock-to-flow (S2F) mannequin is an econometric evaluation by a pseudonymous analyst predicting Bitcoin will hit $100,000 by 2021, then a million heading within the second half of this decade.

Joe007 went on to name out the “idiocy of the Brrr meme.” The “brrr” meme is a story within the cryptocurrency and monetary markets that the Federal Reserve’s financial insurance policies will increase Bitcoin.

The idiocy of Brrr meme defined in phrases that even S2F cultists can perceive. Amazing!

— ʲᵒᵉ007 (@J0E007) June 28, 2020

And lastly, he mentioned the “fairy story narrative” that’s “GBTC [is] shopping for extra BTC than miners produce.”

“Arbitrageurs are enjoying GBTC premium by BORROWING BTC and changing them into GBTC shares. Direct GBTC market buys have been lower than 10% of miner emission in 2020. Don’t belief, confirm,” Joe007 wrote.

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Seeing that Joe007 has returned to Twitter for all of six hours, there’s probably much more he has to say. But what that will likely be stays to be seen.

A Massive Economic Shock Is Coming

One of essentially the most poignant feedback Joe007 made earlier than his preliminary departure was {that a} huge financial shock is coming.

Echoing the fears of many Wall Street analysts and economists, he wrote:

“It goes to be the most important financial shock of our technology. It will unfold in waves and over time, giving false hopes after which crushing them. The focus of the disaster will likely be shifting via totally different areas. Attempts to alleviate and remedy one disaster will result in extra mess.”

The Bitcoin dealer additionally shared a paper indicating that it could be a “powerful 20 years going ahead.”

He didn’t tie this sentiment to Bitcoin, although there are some saying {that a} extraneous macro shock will support cryptocurrencies.

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Price tags: xbtusd, btcusd, btcusdt
An Infamous Bitcoin Whale Just Resurfaced — and He’s Got a Bone to Pick


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