Chinese Mining Tycoon Jiang Zhuoer Exits Entire BTC Position Amid Inflation Concerns

Jiang Zhuoer, founder of the BTC.TOP mining pool, has made a significant move in his investment strategy. He has sold all of his Bitcoin holdings at a price of $77,226.

This decision comes as inflation data from the US is on the rise and expectations for the Federal Reserve's monetary policy are becoming increasingly hawkish. Jiang had previously stated that the probability of an interest rate hike had risen to 70% following the latest Producer Price Index (PPI) data.

Jiang also expressed concerns about the upcoming Consumer Price Index (CPI) data, suggesting it could have negative consequences for the markets. He hinted at being prepared to open a short position in the market if conditions are right.