Keith McCulloch, CEO of the analytical company Hedgeye Risk Management, announced on Tuesday his decision to withdraw from the bitcoin position.
"I sold all my bitcoins," he wrote on Twitter.
McCulloch did not comment in any way on the latest actions, but retweeted the message of the user Luca Balestrieri: "He understands correlations and does not always remain a bull. Today, he has sold all the bitcoins, but did not say that he will not buy them in the future. If the dollar strengthens, the correlating instruments will start to fall, including the bitcoin. He made a profit to buy lower next time.
According to McCulloch, his company advises clients managing assets worth more than $1 trillion. The CEO says he "officially joined the Bitcoin discussion" in December 2017 as the cryptographic currency soared to a historic high of about $20,000.
In March, shortly after the markets collapsed and the bitcoin dropped below $4,000, McCulloch announced, "I was bullish on the bitcoin until February and then sold it because my risk management process told me to do so.
In May, while the bitcoin remained below $10,000 and showed negative dynamics, McCulloch predicted a rise above the key level and didn't miss it. "The bullish trend is still present," he wrote then.