Thesis distilled from Jordi Alexander (Founder/CIO, Selini Capital) on the 1000x podcast, recorded at the Selini Summit. His two most specific, actionable calls, expressed as one pair. (SpaceX leg via the active SPCX market; the vntl premarket SPACEX book is currently inactive.)
LEG 1 - Long BTC (why): Jordi says crypto has "kind of bottomed" - a choppy sideways base with no momentum that resolves in "a very sudden move up... for no reason," because momentum begets momentum and reflexive FOMO returns [~10:21]. Majors are the cleanest vehicle for that reflexive bid; the game is to be faster than the slowest bagholder, not the fastest [~13:00].
LEG 2 - Short SpaceX / SPCX (why): passive flows "always end up holding the bag." SpaceX listed low-float and "the NASDAQ is about to pile in a bunch of money" - a mechanical, predictable, front-runnable inflow [~11:08 / ~11:28]. Stacked on top: "a ridiculous amount of unlocks just August," then the next tranche, then an earnings call two weeks later - supply overhang crashing into the passive bid [~8:00]. It's the crypto playbook (KOLs, unlocks, launchpad-style IPO allocations flipped) now run on premarket equity [~6:43 / ~8:12].
Sizing: deliberately low leverage (2x). Jordi's Oct-10 lesson - 3-4x got sub-accounts liquidated in the cascade; Selini came out "smarter... a little more conservative" [~14:27 / ~17:03].
Confirms it: BTC base breaks up on rising volume while SPCX bleeds through the Aug unlock tranches. Kills it: BTC loses the range low, or SpaceX gets clean passive inclusion with unlocks fully absorbed.
Note: the board tracks price P&L only; this is a directional pair thesis, not a funding carry.
Attribution: "From Poker Pro To Trading Giant: Inside The Mind of Selini Capital" - Jordi Alexander (@gametheorizing) with Avi Felman, 1000x. Full episode: https://www.youtube.com/watch?v=U9-OCx4UVJk
BTC
SPCX