A Million dollar bet that Bitcoin will reach $50,000

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A WSJ report says that daily trading records released by LedgerX - a startup electronic market for Bitcoin derivatives - show that an unidentified trader/traders bought Bitcoin call options amounting to just under $1 million.

The call options expire on 28 December 2018, wagering that Bitcoin will hit $50,000. The call options wagered gives the trader/traders the right to buy 275 Bitcoins at $50,000 upon expiration date.

LedgerX chief executive, Paul Chou, declined to identify who was behind the purchase - but said "it's not an individual, let's put it that way".

For Bitcoin to reach $50,000 from today's levels, it would mean a jump of over 190%. If you want to think about it, that's peanuts compared to the >1,500% jump this year, no?

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