“Strategy’s Counterparty” is back in the green , but it’s been a seriously wild ride getting here. At one point, the account was sitting on a huge +$25M profit, only to see it completely flip into a brutal -$31.5M drawdown… and now somehow, it’s clawed its way back to over $2M in profit again. Not many traders survive swings like that, let alone recover from them.

What’s interesting is that the strategy hasn’t really changed -- he’s still leaning heavily bearish. The portfolio is dominated by shorts, with around $131M on the short side versus just about $4.3M in longs. The biggest positions are a 40x leveraged $BTC short worth roughly $81.8M with an entry around $71,159 (currently in profit by over $1.17M), and a 25x $ETH short worth about $48.8M entered near $2,198, also sitting nicely in profit. On top of that, there’s a smaller $ZEC short (~$1M position, also green), while the only long exposure is a leveraged Brent oil position worth around $4.3M, which is also slightly profitable.
Overall, it doesn’t feel like random trading at all… more like someone sticking to a high-conviction thesis, even through massive drawdowns. And right now, that conviction -- especially on #BTC and #ETH shorts .. is starting to pay off again.
address: 0x94d3735543ecb3d339064151118644501c933814