"I'd rather short ether."
The activist short-seller behind Citron Research, told CoinDesk on Tuesday that he thinks both bitcoin and ether, the cryptocurrency of the ethereum network, are "Bubbles." If he had to choose one he'd bet on ether's price to fall.
Left is known for writing explosive reports into companies like the Canadian pharmaceutical firm Valeant, arguing that investors should short them.
His comments came a day after he fired a Twitter broadside at Square, a payments company that has been adding support for bitcoin buying and selling.
"WallSt drunk on Bitcoin nonsense, SQ-Cash to BTC trading has been insignificant," Left wrote.
Square is scheduled to report its latest earnings data on Wednesday, and if "They've earned nothing from crypto, don't be surprised," Left told CoinDesk.
Left has taken aim at other investments related to cryptocurrency in the past, but he told CoinDesk that each had an "Individual reason."
He's not so sure that bitcoin will win out, he said, but as mentioned before, he would gladly short the second-largest cryptocurrency by value.
Left dismissed a bullish argument for ether - that its price will grow because entrepreneurs can issue tokens and build decentralized applications on top of the ethereum blockchain - using the analogy that Oracle doesn't own part of the businesses that run on its own servers.
Left has been shorting stocks full-time since 2001, and has said he's made money every year.
I Would Short Ether Before Bitcoin, Says Citron's Andrew Left
pubblicato su May 2, 2018
by Coindesk | pubblicato su Coinage
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