Did Bitcoin, Rather Than Softbank, Lead The US Stock Sell-off?

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It is now widely known that Softbank had engaged in significant buying of US tech stocks through options. But it was already an open secret amongst investors for weeks before it hit the financial press. The irony for Softbank is that its share price barely rose as US tech stocks soared over August, but now Softbank shares have fallen sharply with the tech declines (Chart 1).

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