Vincent Daniel, a Big Short investor and co-founder of Seawolf Capital, said in an interview on CNBC's Fast Money program that the weak dollar determines his bullish stance on BTC.
We chose to go long on #bitcoin and short on microstrategies. As investors and traders, if you know you're wrong, you're wrong and you can go to hell. As a result, we stopped losses on microstrategies but held bitcoin, mainly due to the significant weakening of the US dollar and fiat money.
Porter Collins, co-founder of Seawolf Capital and a "big short" investor, says that in addition to gold, bitcoin is another asset that can act as a hedge against a weakening dollar.
If I were to suggest a long position, you wouldn't expect me to suggest the usual idea - gold. We have a thesis on a weakening dollar. We have gold, silver, platinum and bitcoin. Think about the world we live in. Every 100 days we add a trillion dollars to our debt. Think about the dollar in your wallet being worth less tomorrow.
Read us at: Compass Investments
