I caught a falling knife.
And oh boy, does it hurt.
Recently, banks and financial institutions have been dropping like flies, and my itchy fingers decided to catch 1 such sharp knife, right on it’s blade : Silvergate Capital (SI)
This story probably needs no describing: news of Silvergate’s demise has been plastered all over the media, and in fact, SI’s collapse is really, 1 of the preceding factors that triggered stresses in the other banks.
For the record, I ain’t no crypto rambling bro that bought into SI when the share price was > $100, held onto it, and got caught up in SI’s collapse.
No, no. That’s not me. I’m the hero that sat on the sidelines while SI’s share price collapsed, continued eating popcorn while SI closed it’s very popular Silvergate exchange network, then looked at the numbers, and decided that ah-hah, the carnage should be almost over, THEN decided to jump in the fray, looking all confident and smug....