[Longing 'Digital Gold' Outperforms Spot Gold, Whale Opens Long BTC to Hedge Gold Short Floating Losses] BlockBeats News, March 2, according to Coinbob's popular address monitoring, in the past hour, the whale at address 0x610 has started attempting to go long on BTC again as the floating losses on its precious metals short positions expand. The long positions opened in the past hour mark the third attempt since February 28, possibly as a short-term risk hedging strategy using 'digital gold' against physical gold. The current position size has reached $2 million, with an average price of $66,200. Rewind to three days ago. At 10 PM on February 26, the third round of U.S.-Iran Geneva talks began, and gold hovered around the $5,200/ounce level. As global funds flocked to buy safe-haven assets, the address countered by opening a short position on GOLD (gold-mapped contract). On February 28, news of a joint U.S.-Israel airstrike broke, causing a short-term surge in gold prices, resulting in floating losses on the short position. On the same day, the address increased its gold short position and opened a new short position on SILVER (silver-mapped contract), continuing to bet on a decline in safe-haven assets. The next day, the address opened a BTC long position in the early hours.