Bitcoin Options Purchased for $1 Million Will Soon Be Worthless

Bitcoin Options Purchased for $1 Million Will Soon Be Worthless

Want to read Slashdot from your mobile device? Point it at m.slashdot.org and keep reading! binspamdupenotthebestofftopicslownewsdaystalestupid freshfunnyinsightfulinterestingmaybe descriptive 104881584 story Bitcoin Options Purchased for $1 Million Will Soon Be Worthless (bloomberg.com) Posted by EditorDavid on Saturday December 08, 2018 @02:04PM from the buy-high-sell-low dept. “The biggest-ever bet on Bitcoin options is about to expire worthless,”…

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Bitcoin

The Almighty Buck

Bitcoin Alternatives Purchased for $1 Million Will Soon Be Worthless (bloomberg.com)






Posted
by

EditorDavid

from the retract-high-promote-low dept.

“The finest-ever guess on Bitcoin alternatives is about to expire worthless,” reports Bloomberg:

Purchased for almost $1 million on LedgerX’s trading platform factual days after Bitcoin peaked a yr within the past, the decision alternatives possess a strike designate of $50,000 and an expiry date of Dec. 28, 2018. For the contracts to abet any value at expiry, Bitcoin would must rally bigger than 1,400 percent.

The alternatives’ almost particular wipeout is a much less-than-superb for the shopper, nevertheless it completely could perhaps presumably no longer be slightly as infamous as it appears to be like. Ari Paul, a cryptocurrency fund supervisor at BlockTower Capital, has indicated that he supplied the alternatives while simultaneously selling a couple of of his fund’s Bitcoin holdings… He later tweeted that the alternate — selling a couple of of his Bitcoin holdings while making an are attempting to search out the decision alternatives — used to be profitable.



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