Understanding Ashdraking
The term “Ashdraking” originated from the activities of Lord Ashdrake, a pseudonymous Romanian Bitcoin trader who gained prominence in the mid-2010s.
Lord Ashdrake was well-known for his skepticism towards cryptocurrencies.
He had a steadfast strategy of shorting BTC, which involved speculating that the digital asset would decrease in value.
Bitcoin Futures and Ashdraking
The launch of Bitcoin futures on the CBOE was considered a crucial test for the digital currency.
The mainstream financial press, typically skeptical of cryptocurrencies, predicted that institutional investors would take substantial short positions.