Bitcoin (BTC) and Ethereum (ETH) are certainly long-term bets for 2022, according to renowned investor and commentator Zhu Su.
In a tweet on Feb. 10, Zhu Su, co-founder of hedge fund Three Arrows Capital (3AC), argued that BTC and ETH are the best investment choices this year along with oil, while the S&P 500 is not. .
Zhu: 2022 macro trade 'very clear'
Not everyone thinks 2022 will be a down year for holders, despite fears that deflationary pressures could send bitcoin and altcoins falling along with the stock market.
The picture is complicated - some are looking at a "melt-up" (meaning more and more bulls) in stocks and cryptocurrencies due to the positive correlation. Others believe that a period of pain will come across the board, but at least Bitcoin will come out stronger from here on out.
Meanwhile, former BitMEX CEO Arthur Hayes has been pessimistic about the macro outlook since the start of the year.
For Zhu, however, it is "pretty clear" where hedging cash for the next three quarters can be done.
I think this year's macro trades are clear to me:
1) Long oil before December 22 and December 23
2) Use highly liquid cryptocurrencies such as Bitcoin and Ethereum as hard currency
3) Short russell/spx
4) Short Meta + Apple / Long Google + Microsoft
— Zhu Su (@zhuusu) February 10, 2022
Another Twitter thread agreed that adding Visa and Mastercard as fiat payment processors was also a “smart move” for bears.
"24 crazy hours"
Earlier rumors said that BlackRock, the world's largest asset management company, intends to enter the cryptocurrency field.
BlackRock clients may soon be able to trade cryptocurrencies, and the giant will also facilitate credit access to crypto collateral, according to several people familiar with the matter cited by mainstream media.
One source described BlackRock's approach as "seeking direct involvement in cryptocurrencies."
Big Four accounting group KPMG Canada announced this week that it was adding bitcoin and ethereum to its balance sheet.
All in all, these adoptions fueled a “crazy 24 hours,” in the words of popular trader and analyst Pentoshi.
BTC
crazy 24 hours
Some Canadian companies are buying bitcoin for much less than I am
Russia adopts cryptocurrency
BlackRock Wants Bitcoin
El Salvador's public debt approved
So why is there a price fight?
Correction = Safe Failure
Do you pay for what the market gives you?
— Forbes Pentoshi, The Worst Trader of 40 Years, February 10, 2022
However, as Cointelegraph reported, a near-term BTC price increase is far from certain for bulls.
Jixu
