Three Arrows exec expects BlackRock to start crypto trading in 2022

Concerns about stock market strength are far from universal, according to 3AC’s Zhu Su, as crypto connection to US stocks fails to phase.

According to popular investor and commentator Zhu Su, Bitcoin (BTC) and Ether (ETH) are sure long bets for 2022.

Zhu, co-founder of hedge firm Three Arrows Capital (3AC), stated in a tweet on Feb. 10 that BTC and ETH, together with oil, were the finest investment prospects this year, whereas the S&P 500 was a no-go.

2022 macro trades are “very evident,” according to Zhu.

Despite fears that deflationary pressures would drag Bitcoin and altcoins down with stocks, not everyone thinks 2022 will be a bad year for hodlers.

Because of the strong link, some are predicting a “melt-up” for equities and crypto as a result. Others believe that a period of pain is coming across the board, but that Bitcoin will emerge stronger as a result.

Ex-BitMEX CEO Arthur Hayes, on the other hand, has been pessimistic about the macro outlook since the beginning of the year.

There are now “very apparent” places to hedge cash for the next three quarters, according to Zhu.

 

Adding Visa and Mastercard as fiat payment processors was also a “no brainer” for shorts, according to another Twitter post.

“It’s been a crazy 24 hours.”

The estimate came after reports that the world’s largest money management, BlackRock, was planning to enter the bitcoin market.

According to numerous sources familiar with the situation who have been quoted in the mainstream media, BlackRock clients will soon be allowed to trade cryptocurrency, and the company will also provide credit in exchange for crypto collateral.

According to one insider, BlackRock is “seeking to go hands-on with outright crypto.”

KPMG Canada, a Big Four accounting firm, said this week that it had included Bitcoin and Ether to its financial sheet.

Overall, adoption has fueled a “insane 24 hours,” according to popular trader and analyst Pentoshi.

BTC price improvements in the near term are far from a foregone conclusion for bulls.

 

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

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