Bitcoin Whale Dives into Stocks with $3.53 Million CXMT Short Position

A BTC whale investor has made its first foray into stocks by opening a short position on Changxin Technology (CXMT) worth $3.53 million, according to Hyperinsight Monitoring.

The whale, which has only traded BTC in the past three months, opened CXMT short positions at noon with 2x leverage and an average entry price of $7.47.

As of writing, it holds 500,000 CXMT short positions valued at approximately $3.533 million, with a return rate of about 10.96% after CXMT dropped to $7.0669.

The whale has allocated approximately $3.599 million as margin for the position and still holds a 40x leveraged short position on BTC worth $6.6 million.