In a post on X, formerly Twitter, Pershing Square’s Bill Ackman said: “I underestimated how much exposure Fannie (FNMA) and Freddie (FMCC) have to crypto, not on balance sheet, but in their shareholder bases. Run a correlation between F2 and bitcoin and you will see what I mean. Forced liquidations and margin calls in crypto are leading to F2 share sales in the market. We don’t own bitcoin, but clearly in the short term, we own a stock market proxy for bitcoin. In the short term, the technicals can overweigh the fundamentals. F2 are a case study of that phenomenon.”
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FNMA:
- Ackman: NYSE ‘ready’ for Fannie, Freddie if President wants them there
- Ackman: Fannie Mae, Freddie Mac meet all NYSE listing requirements today
- Ackman says solution for Freddie Mac, Fannie Mae ‘simple,’ straightforward’
- Pershing’s Ackman says now not the right time to sell Fannie, Freddie stock
- Fannie Mae watchdogs probed how Pulte obtained records, WSJ says