The World’s Wealthiest Are Dumping Stocks, How This Can Impact Bitcoin

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Some of the wealthiest individuals in the world are dumping stocks they bought at the Black Thursday bottom this past March. Thanks to an ongoing tight correlation between the stock market and Bitcoin, any selloff could also impact the cryptocurrency. If the stock market does start crashing again, how might this affect Bitcoin in the days ahead? UBS: Billionaires Are Preparing To Dump Stocks Bought During Black Thursday Bottom According to a firm that’s dubbed the ‘fortress bank for billionaires’, the world’s wealthiest are ready to take profit on stocks they bought in March. In an interview with Reuters, UBS’ head of global family offices Josef Stadler revealed how some of the richest families across the globe have taken advantage of the recent stock market volatility. Stadler explained that families with an average net worth of $1.6 billion, heavily bought the dip during the Black Thursday collapse. He adds that…

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