Bitcoin woes: Options bought for $1 million will soon be worthless

Bitcoin woes: Options bought for $1 million will soon be worthless

The biggest-ever bet on Bitcoin options is about to expire worthless. Purchased for almost $1 million on LedgerX’s trading platform just days after Bitcoin peaked a year ago, the call options have a strike price of $50,000 and an expiry date of Dec. 28, 2018. For the contracts to retain any value at expiry, Bitcoin would need to rally more than 1,400 percent.

Read more at 
The Financial Express

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