Vida Says He Hedged Bitcoin at $63,000 and Trimmed One-Third of His Position

Vida, founder of Formula News, said he hedged with BTC/USD1 perpetual contracts when Bitcoin was about $63,000 and has exited roughly one-third of his BTC position. According to Odaily, he still holds two-thirds of his spot BTC.He said he remains bullish on Bitcoin over the long term, but believes the current BTC narrative has been clearly overshadowed by AI and that he does not expect a new core narrative to emerge in the next one to two years. Vida said Bitcoin's next bull run may need to be driven by issues in U.S. Treasuries or the dollar, along with rising concerns about fiat currency depreciation, and that global assets may first undergo repricing before then.Based on that view, he expects to have an opportunity to buy back the position he exited in the $45,000 to $55,000 range over the next one to three years, while keeping two-thirds of his BTC as a long-term core holding.