The hedge fund manager and economist who famously shorted the 2017 top is rooting for the total annihilation of the cryptocurrency industry to punish the “grifters.”
Mark Dow, the macro trader and former IMF economist best known for calling the Bitcoin top in 2017, has offered his harshest condemnation of the industry to date.
Dow is now actively wishing for the asset to evaporate completely.
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Mark Dow: I Want Bitcoin to Go to Zero
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“I want bitcoin to go to zero,” Dow declared. “And I want all the grifters who pumped this to rubes on the back of moronic fearmongering of monetary policy and promises of generational wealth to be fully invested as it happens.”
Dow gained some prominence after famously announcing that he had shorted Bitcoin back in December 2017
He wrote that Bitcoin’s price had become “random” and disconnected from any reality, He noted that the introduction of CME Futures provided the catalyst for the bubble to pop, given that institutional bears could finally bet against it.
In December 2018, almost exactly one year after opening the short, Dow closed the position near the absolute bottom (approximately $3,200)
“I’m done. I don’t want to try to ride this thing to zero,” he said back then
A broken clock?
Despite his president trades, which could have been pure luck, Dow’s takes should be taken with a grain of salt, given that he has been a Bitcoin permabear for well over a decade
At the same time, some industry proponents have dug up an old tweet by Dow, in which he claims that Bitcoin is a tax on paranoid stupidity
Since then, the world’s largest cryptocurrency rallied by 133,000%
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