"On-chain stock market participants" are reducing their short positions in BTC and accelerating their investment in on-chain stocks and gold, with related holdings reaching $24.3 million.

According to Mars Finance, on January 19th, Coinbob's monitoring of popular addresses showed that in the past hour, a"chain stock investor" (0xfc66…) continued to reduce its BTC short positions to lock in profits, having already reduced its holdings by approximately $1.18 million, and was still reducing its positions as of press time. After this operation, the total value of the address's BTC short positions still reached $8.7559 million, with a floating profit of approximately $334,000, and its total assets in its contract account are currently $67.28 million. While reducing its crypto short positions, the address shifted funds to on-chain stocks and gold assets. Specifically, it continued to increase its holdings in several on-chain stocks, including S&P 500, Tesla, and MicroStrategy, increasing its holdings from $4 million last week to the current $10.25 million. In addition, the address also opened a new short position in PAXG (gold), with a holding size of $14.1 million and an average price of $4,532. Currently, its total on-chain stock and gold-related holdings are approximately $24.35 million. The address's total assets exceed $67.2 million. Its trading strategy has recently undergone a significant shift: since January 8th of this year, it has been continuously reducing its short positions in highly leveraged ETH, BTC, and SOL, with its overall holdings reduced by approximately 50%; at the same time, it has been gradually increasing its holdings in on-chain stocks and gold, and is now the largest short seller of on-chain gold.