6 years ago
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Trader makes million-dollar bet that bitcoin will triple next year
Someone just bet that bitcoin will top $50,000 next year. Online records from New York-based digital currency-trading platform LedgerX showed 275 call options expiring Dec. 28, 2018, were bought in Wednesday's trading session at a volume-weighted average price of $3,600. At that price, roughly $1 million was spent on the bet. The trade gives the investor or investors the option to buy bitcoin at $50,000 in the roughly next 12 months, implying expectations that the digital currency will soar beyond that price.
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It just lost like 30% of its high in the last day or so...