The post Investment Company CEO Speaks About Bitcoin: “I Own BTC, But I’m Worried About This Black Swan Event” appeared on BitcoinEthereumNews.com. Altimeter Capital CEO Brad Gerstner shared his views on Bitcoin (BTC) and MicroStrategy in the broadcast he attended. Gerstner described the firm’s over-leveraged Bitcoin strategy as “difficult to understand,” and said that MicroStrategy’s potential deleveraging could create short-term turbulence in the market. Gerstner explained that as a hedge fund manager, he uses very limited leverage. “We don’t leverage Bitcoin. I’ve heard MicroStrategy’s strategy over and over, but I still don’t fully understand it. If I hear something over and over and still don’t understand it, that’s a red flag for me,” he said. “Bitcoin is a speculative asset, but it will gain more benefits in the long run.” Gerstner noted that while Bitcoin has lost 10% of its value this year, gold has risen 50-60%, further demonstrating the divergence in risk perception. He noted that he still owns Bitcoin and may purchase more if the price falls further. “Bitcoin is a speculative asset today, but over time, it will gain more utility and more uses. As it becomes more integrated into the financial system and is adopted more by foundations and sovereign funds, it will become a self-fulfilling value thesis,” he said. Despite this, he said, the “speculative influx” resulting from ETF approvals and regulatory clarity over the past year has overinflated prices, and the current decline is a fixing move. Gerstner said that Bitcoin’s decline wasn’t the “end of the world” and that volatility was inherent in the asset. However, he added that MicroStrategy’s highly leveraged structure could create chain-relief selling pressure: “Bitcoin is a risk asset. A portfolio needs to be positioned accordingly. If MicroStrategy is forced to lose leverage, that could create a very messy picture in the short term. So I’m waiting to see how things unfold.” Although Gerstner stated that it is unrealistic for Bitcoin… The post Investment Company CEO Speaks About Bitcoin: “I Own BTC, But I’m Worried About This Black Swan Event” appeared on BitcoinEthereumNews.com. Altimeter Capital CEO Brad Gerstner shared his views on Bitcoin (BTC) and MicroStrategy in the broadcast he attended. Gerstner described the firm’s over-leveraged Bitcoin strategy as “difficult to understand,” and said that MicroStrategy’s potential deleveraging could create short-term turbulence in the market. Gerstner explained that as a hedge fund manager, he uses very limited leverage. “We don’t leverage Bitcoin. I’ve heard MicroStrategy’s strategy over and over, but I still don’t fully understand it. If I hear something over and over and still don’t understand it, that’s a red flag for me,” he said. “Bitcoin is a speculative asset, but it will gain more benefits in the long run.” Gerstner noted that while Bitcoin has lost 10% of its value this year, gold has risen 50-60%, further demonstrating the divergence in risk perception. He noted that he still owns Bitcoin and may purchase more if the price falls further. “Bitcoin is a speculative asset today, but over time, it will gain more utility and more uses. As it becomes more integrated into the financial system and is adopted more by foundations and sovereign funds, it will become a self-fulfilling value thesis,” he said. Despite this, he said, the “speculative influx” resulting from ETF approvals and regulatory clarity over the past year has overinflated prices, and the current decline is a fixing move. Gerstner said that Bitcoin’s decline wasn’t the “end of the world” and that volatility was inherent in the asset. However, he added that MicroStrategy’s highly leveraged structure could create chain-relief selling pressure: “Bitcoin is a risk asset. A portfolio needs to be positioned accordingly. If MicroStrategy is forced to lose leverage, that could create a very messy picture in the short term. So I’m waiting to see how things unfold.” Although Gerstner stated that it is unrealistic for Bitcoin…

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