Data from LedgerX, a market for bitcoin derivatives, has shown that an investor purchased nearly $1 million in bitcoin options with a $50,000 call.
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“Without a doubt, there are institutions out there that are looking at these types of trades or have done these types of trades. It’s not an individual, let’s put it that way,” LedgerX CEO, Paul Chou, stated.
In one year, if the price of bitcoin is less than $50,000, the investor will lose the entire $1 million investment.
If the price of the cryptocurrency exceeds $50,000, the options owner will have the right to buy 275 bitcoins for $50,000, a total of $13.8 million.