Express
Billionaire Bill Ackman: Cryptocurrency Market Sell-off Leads to Decline in US Mortgage Agencies' Stocks, Short-term Panic Affects US Stock Performance
Summary: In a recent post on X platform, billionaire and prominent hedge fund manager Bill Ackman stated, 'I underestimated Fannie and Freddie's exposure to cryptocurrencies, not on the balance sheet, but on the shareholder base. Think about the correlation between F2 and Bitcoin, and you'll understand what I mean. Forced liquidation and margin calls in the ...
In a recent post on X platform, billionaire and prominent hedge fund manager Bill Ackman stated, 'I underestimated Fannie and Freddie's exposure to cryptocurrencies, not on the balance sheet, but on the shareholder base. Think about the correlation between F2 and Bitcoin, and you'll understand what I mean. Forced liquidation and margin calls in the cryptocurrency market are driving the sale of F2 stocks in the market. We don't own Bitcoin, but apparently in the short term, we have the proxy of Bitcoin in the stock market. In the short term, technical factors may outweigh fundamentals. F2 is a case study of this phenomenon.'
Tags:
Link: Billionaire Bill Ackman: Cryptocurrency Market Sell-off Leads to Decline in US Mortgage Agencies' Stocks, Short-term Panic Affects US Stock Performance [Copy]
