Celsius acknowledges $1.2B hole in balance sheet

Re:Celsius acknowledges $1.2B hole in balance sheet by trixie_ on Friday July 15, 2022 @12:48AM (#32104714)

I'm not upset either. The dollar is a stable because of manipulation though unfortunately over the long term it does lose value. The cost of stability. Crypto on the other hand I do expect to go up over the long term while being short term volatile. Let's check back in five years and see if that's the case.

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Re:Celsius acknowledges $1.2B hole in balance sheet by Nursie on Friday July 15, 2022 @01:46AM (#32104974)

We can do that, and I'm not sure I would like to make a prediction about the price of any particular cryptocurrency asset that far ahead.

But I'm also not sure what that has to do with my posts further up, which are saying that another claim about cryptocurrency, that it's a hedge against the stock market and the wider financial system, is wrong. If you're trying to say "Well it might work out, longer term!" then I'm not really sure it qualifies as hedge at that point, you're just talking about another investment which it turns out is quite strongly correlated to the general financial markets.

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Re:Celsius acknowledges $1.2B hole in balance sheet by aaaaaaaaata on Friday July 15, 2022 @07:22AM (#32106987)

> that it's a hedge against the stock market

It can be, but still be correlated right up until that moment.

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Re:Celsius acknowledges $1.2B hole in balance sheet by Nursie on Friday July 15, 2022 @10:48PM (#32114837)

Except it's not, it's literally just shown that when the stock market takes a dive and times generally get tighter, it crashes worse than everything else.

The claim is a bust.

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