$1 Million "Moonshot" Options Betting On Bitcoin $50k About To Expire Worthless
There is nothing like a $1 million bet to get the juices flowing.
A year ago, there was a $1 million gamble placed upon the price of Bitcoin reaching $50, 000 within 12 months. Obviously, the cryptocurrency is going to have to move upward from it's present levels to make those options to be in the money.
Ari Paul bought the options when the price of Bitcoin was $16,000. At present, it is below $4,000 per coin.
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He has one heck of a wall to climb!
If this person was going to make that kind of a prediction, then I would hope they understood that things don't just keep going up indefinitely. This is a roller coaster and will probably continue to be for the foreseeable future.
Small money for most money managers if they have traditional assets under their belts.
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HI, do you use deribit? You can trade options and futures on bitcoin and ethereum.
https://steemit.com/bitcoin/@niel96/how-to-trade-bitcoin-futures-and-options-with-deribit