Cryptocurrencies
Bitcoin Options Bought for $1 Million Will Soon Be Worthless
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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.