prc30 on Nostr: China Morning Missive. With the greatest respect to Mr Bailey, what in God’s name ...
China Morning Missive.
With the greatest respect to Mr Bailey, what in God’s name are you talking about?
Whoever is his source is simply looking to “talk up their book”. Moreover, this isn’t how the Chinese operate. My working thesis has centered on the Chinese initiating a relatively small position back in 2021 using the miner ban announcement to do so at lower pricing.
This plays to the typical Chinese behavior of building optionality and at an appropriate time. A position size that is irrelevant if price goes to zero, but is sized enough to have some degree of impact if price were to move higher.
What can be stated with near full confidence though is that you’ll never hear a word about whatever strategy Beijing has or is considering.
Anyway, have a great weekend all.
With the greatest respect to Mr Bailey, what in God’s name are you talking about?
Whoever is his source is simply looking to “talk up their book”. Moreover, this isn’t how the Chinese operate. My working thesis has centered on the Chinese initiating a relatively small position back in 2021 using the miner ban announcement to do so at lower pricing.
This plays to the typical Chinese behavior of building optionality and at an appropriate time. A position size that is irrelevant if price goes to zero, but is sized enough to have some degree of impact if price were to move higher.
What can be stated with near full confidence though is that you’ll never hear a word about whatever strategy Beijing has or is considering.
Anyway, have a great weekend all.