The recent surge in cryptocurrency prices has been driven by retail investors, but institutions are starting to join in, Goldman Sachs', $GS, head of digital assets Mathew McDermott has said.
Snapchat, $SNAP, is down 30% after earnings.
David Portnoy, before earnings, bought $SNAP $20 calls and sold $15 puts for March.
Both positions will be underwater significantly if $SNAP stays here.
For those wondering, Representative Michael Collins has bought around 75k in Ethereum, $ETH since October 9th, before the Spot Bitcoin ETFs.
Ethereum is up ~59% since his first buy.