Selling Bitcoin Doesn't Mean You're Not Bullish: Cypherpunk CEO

Cypherpunk is one of the first public companies in the world to invest in Bitcoin and it has chosen to sell 100% of its cryptos from here June 2022.

Despite a massive wave of sell-offs in the cryptocurrency market, some companies that have sold their crypto over the past few months are not bearish on Bitcoin (BTC) at all.

Canadian investment firm Cypherpunk Holdings was one of the companies that opted to sell crypto during the crypto winter of 2022, liquidating 100% of its bitcoin and ether (ETH) by June . One of the world's first public companies to invest in Bitcoin, Cypherpunk said at the time that it maintained its long-term "bullish outlook on crypto" despite selling off all of its digital coins.

One may find Cypherpunk's crypto liquidation somewhat odd, as the company's shares publicly trade under the symbol HODL on the Toronto Stock Exchange. The acronym is widely used in the crypto community to refer to “Hold On for Dear Life,” or the bullish strategy of holding Bitcoin regardless of market circumstances.

According to Cypherpunk CEO Jeffrey Gao, crypto investors can still remain optimistic despite cashing in their crypto from time to time.

“We are in this business because we are net bullish on long-term crypto,” Gao said in an interview with Cointelegraph. Cypherpunk can jump back into Bitcoin or "any crypto or any crypto basket" tomorrow if it chooses, and these are "definitely opportunities" the company is actively pursuing, the CEO noted. /p>

Gao said the industry has seen forced liquidations as even "supposedly the most sophisticated" institutions like Voyager, Three Arrows Capital and Celsius got involved in deals that were "completely devoid of asset management." risks". According to the CEO, the absence or near absence of risk management is what really separates the crypto industry from something more mature. Gao added:

“In the future, this mentality towards r...