2

Is it the same as I'm not short of bitcoin?

I don't own bitcoin. I'm not short bitcoin," Gates said on CNBC's "Squawk Box" on Thursday. He added transitioning money into a digital format was something that he was also trying to do. "I do think moving money into a more digital form and getting transaction costs down, that's something the Gates Foundation does in developing countries," Gates added.

Source: https://www.ibtimes.com/billionaire-bill-gates-finally-speaks-about-bitcoin-does-he-own-btc-3148198

1 Answer 1

5

To "short" or "short-sell" (a stock, an equity or similar) means you place a bet that the value of the stock will decrease. (You borrow some of the stock from a broker, sell it at the current market value, hope the market value decreases, then buy it back for less money and return the stock to the broker. You pocket the difference as profit). It means you think the stock is overvalued.

I would have said "I'm not shorting bitcoin" or "I'm not short-selling bitcoin". That may just be market slang or a mistake (tweets are intended to be casual and are often not checked for grammar.) You can also say "I am short on bitcoin" to mean "I am short selling bitcoin". But it is ambiguous because that can also mean "I don't have enough bitcoin", which is almost the opposite meaning!

This is why you need to read for context, and this context is that "Gates is not short-selling Bitcoin" (but he isn't yet convinced that it will replace other currencies.

1

You must log in to answer this question.

Not the answer you're looking for? Browse other questions tagged .