Tether, the cryptocurrency which is theoretically backed 1:1 by USD held in a bank account and available on demand, is currently in the early stages of a bank run.
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Your best guess is that bitcoin will move to 0 or you are actively shorting it?
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Unlikely he's actively shorting it. Short-selling makes a fair number of assumptions that can be hard to prove with cryptocurrency, and Patrick seems like he doesn't want a piece of the cryptocurrency market in general. He seems more "doesn't want to get any on him."
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It's not too hard to compete with a currency that's debased like the USD.
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