Latest news with #JoshMandell
Yahoo
27-05-2025
- Business
- Yahoo
Veteran hedge fund manager claims he is 'Bit Wiser' after misstep
Josh Mandell, a longtime Wall Street trader with a track record in government bonds and short-dated options, as well as experience in leading hedge funds, has provided an interesting note this morning, offering a rare glimpse into his investment in crypto — and it has raised a few eyebrows. Mandell posted on May 27, a screenshot that showed a 2.1 million dollar position in the Bitwise Bitcoin ETF (BITB), with a "tiny" gain of $1,491.80 on the day. His post on X read, "I've made some bad choices when deciding how to invest in Bitcoin, but today I'm a Bitwiser." Bitwise is one of the largest firms providing exposure to Bitcoin via a regulated exchange-traded fund (ETF), so there is no need for traditional investors to invest in crypto assets directly, such as wallets and private keys. Mandell's investment, as shown in the image, consisted of 35,000 shares in the ETF at an average purchase price of $59.98, corresponding to a current trading price of $60.02 for BITB. A $1,491.80 gain is not notable in isolation, but concerning his $2.1 million investment capital, a 0.07% gain signals Mandell's level of interest in Bitcoin as a long-term store of value. Josh Mandell has a lengthy history of working in fixed income trading, options trading, and the hedge fund space, serving as a director and head of Caxton Associates, a high-profile investment firm specializing in fund management. His public embrace of a Bitcoin ETF is indicative of an increasing interest in digital assets among traditional finance veterans. For retail investors, this represents yet another sign that Bitcoin is slowly but surely becoming a deserving member of the financial mainstream. Veteran hedge fund manager claims he is 'Bit Wiser' after misstep first appeared on TheStreet on May 27, 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
27-05-2025
- Business
- Yahoo
Veteran hedge fund manager claims he is 'Bit Wiser' after misstep
Josh Mandell, a longtime Wall Street trader with a track record in government bonds and short-dated options, as well as experience in leading hedge funds, has provided an interesting note this morning, offering a rare glimpse into his investment in crypto — and it has raised a few eyebrows. Mandell posted on May 27, a screenshot that showed a 2.1 million dollar position in the Bitwise Bitcoin ETF (BITB), with a "tiny" gain of $1,491.80 on the day. His post on X read, "I've made some bad choices when deciding how to invest in Bitcoin, but today I'm a Bitwiser." Bitwise is one of the largest firms providing exposure to Bitcoin via a regulated exchange-traded fund (ETF), so there is no need for traditional investors to invest in crypto assets directly, such as wallets and private keys. Mandell's investment, as shown in the image, consisted of 35,000 shares in the ETF at an average purchase price of $59.98, corresponding to a current trading price of $60.02 for BITB. A $1,491.80 gain is not notable in isolation, but concerning his $2.1 million investment capital, a 0.07% gain signals Mandell's level of interest in Bitcoin as a long-term store of value. Josh Mandell has a lengthy history of working in fixed income trading, options trading, and the hedge fund space, serving as a director and head of Caxton Associates, a high-profile investment firm specializing in fund management. His public embrace of a Bitcoin ETF is indicative of an increasing interest in digital assets among traditional finance veterans. For retail investors, this represents yet another sign that Bitcoin is slowly but surely becoming a deserving member of the financial mainstream. Veteran hedge fund manager claims he is 'Bit Wiser' after misstep first appeared on TheStreet on May 27, 2025
Yahoo
22-05-2025
- Business
- Yahoo
Bitcoin Backs Off Quickly From Record High as Interest Rate Surge Hits Risk Assets
Bitcoin's BTC surge to a fresh all-time record on Wednesday ran into a brick wall just below $110,000. After hitting a record of $109,754, BTC quickly fell to about 3% to the $106,000 area. At press time, the top cryptocurrency was trading just above $107,000 according to CoinDesk's Bitcoin Price Index, modestly lower over the past 24 hours. Other cryptocurrencies took a hit as well, with ether ETH and solana SOL also slightly lower over the last day despite the early Wednesday run higher. The reason behind the price action may be as simple as traders taking profits on the quick rise — bitcoin was higher by nearly 50% since bottoming about five weeks ago. Likely contributing was the ripple effect of a U.S. treasury bond auction going awry and hitting risk assets. A sale of 20-Year bonds sold by the U.S. Treasury department saw weak demand, sending the yield on the 30-year Treasury spiking to 5.07%, its highest level in more than two years. The Nasdaq tumbled 1.5% in just an hour shortly after the news, while the S&P 500 declined 1.3%. "This is a ticking time bomb, swept under the rug,' said Josh Mandell, a longtime fixed-income veteran turned bitcoin analyst, prior to this afternoon's poor bond sale. 'We used to talk about the disaster that would ensue if ever there was a 'MISSED AUCTION' in 30-yr bonds,' Mandell said. 'A missed auction means that there were not enough bids to cover the offering… Were it not for the Fed, we would be experiencing a failure to roll over bonds right now which leads to default.' Kirill Kretov, trading automation expert at CoinPanel, said that liquidity from exchanges has been significantly removed since late 2024, "making the market thinner and more reactive," leaving bitcoin's price vulnerable to wild swings. "Structurally, there's room for explosive upside," he said, but "a sharp correction can happen at any moment." The $110,000 level has emerged as a key battleground in the current market structure, well-followed crypto trader Skew noted in an X post, describing it as the critical zone between a local high and a potential breakout point. According to Skew, there's a noticeable concentration of supply around this level, with Binance perpetuals showing a skewed ask-side order book and a buildup of short positions. "All point to a huge amount of liquidity here, usually pivotal for the market," Skew said. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
