Despite confessing his desire, he says it is not because of the currency's fundamentals, but rather as a business opportunity in search of profits.
Finance influencer Tiago Reis wearing a Warren Buffet company cap/Twitter.
To the surprise of many who follow Tiago Reis, founder of Suno and one of the most famous people in Faria Lima, he confessed that he wants to buy bitcoin.
Despite the wishes of one of the biggest critics of bitcoin in Brazil, published on his X account last Thursday (21), there are not many reasons to imagine that he has changed his opinion about the digital currency.
In fact, Reis said he was only analyzing an arbitrage operation involving bitcoin, which would involve buying part in Bitcoin and another part would be operating sold in the shares of the company MicroStrategy, whose owner is billionaire Michael Saylor.
Last Thursday, for example, Citron Research announced a large short position in MicroStrategy and caused the company's shares to plummet on the US stock exchange. This Friday (22), NASDAQ: MSTR shares are up 4% in the morning in Brazil, quoted at US$ 415.64.
“I want to buy bitcoin to short MicroStrategy shares,” says Tiago Reis
Hedge, this is Tiago Reis' view on the possible purchase of bitcoin to operate short on MicroStrategy shares. If Michael Saylor's company with shares listed on Nasdaq goes bankrupt, and causes bitcoin to operate in declines, Tiago Reis could profit from his short operation.
However, if bitcoin continues to appreciate and his short position in MSTR does not bear fruit, at least he would have BTC at his disposal to profit on the other side.
And with such an investment opportunity in mind, Tiago Reis confesses for the first time his desire to buy bitcoin publicly, even if it is to bet against the market.
Tiago Reis confesses his desire to buy bitcoin to operate short on MicroStrategy shares. Reproduction: X.
“It has nothing to do with bitcoin, but with arbitration,” says Reis in his defense
Many people, upon seeing Tiago Reis' post, were excited about the possibility that he had changed his mind about bitcoin and now considered the digital currency as an asset worthy of receiving contributions from him.
However, he soon came out to explain that he is still formulating an embryonic investment thesis, which has nothing to do with any optimism about BTC. In his view, it is simply an arbitrage opportunity.
In fact, this thesis (still very embryonic) has nothing to do with bitcoin.
It has to do with arbitration.
— Tiago Guitián Reis (@Tiagogreis) November 21, 2024
He then said that MicroStrategy has had the highest trading volume on the US stock exchange in recent days, its shares have risen and are on the front pages of newspapers around the world. In other words, even though he does not want to remain long on bitcoin due to its fundamentals, he is closely monitoring the opportunities in this market.
Finally, some bitcoin investors appreciated Tiago Reis' visit to the market with a different perspective, such as Charles Mendlowicz, from Economista Sincero, who has invested in btc for years and said "come be happy Tiago".
