Became known, who made $1 million that the price of bitcoin will reach $50 000 in 2018

One million dollars that the price of bitcoin before the end of next year will reach $50 000 put cryptocurrency hedge Fund Blocktower Capital. Reported by Business Insider.

The call option was bought at specializing in cryptocurrency options the new York stock exchange LedgerX. Derivative with expiration date is 28 December 2018 gives the right hedge Fund Blocktower Capital to buy bitcoins 275 $50 000, if the price of cryptocurrencies will reach that mark.


Thus, the Fund's representatives admit that by the end of next year the price of cryptocurrencies can grow even several times, while the strike price will be so high that will cover the cost of buying bitcoins at $50,000 and payable to the seller of the call option premium.

Blocktower Capital is one of the largest hedge funds operating in the dynamically growing cryptocurrency market. According to analyst firm Fintech Autonomous Next, there are currently 175 such investment funds.

The company was founded by the former head of the Susquehanna Ari's Floor and former Vice President of Goldman Sachs Matthew Getzen. According to Ari Paul, the option is not a bet that will happen certainly, but “a bet that can only happen.”

“Risk a little to win a lot,” added co-founder Blocktower Capital.
The recent correction in the market Paul wrote the following on Twitter:

Ari Paul
Unpopular opinion: a major sell-off with prolonged consolidation at a lower level would be the healthiest thing for crypto. <50 million people own any at all today. I'd love to see broader ownership.

5:53 - Dec 22 2017
Answer 74 74 218 218 Retweets 1 210 1 210 Likes
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“Unpopular opinion: powerful sale with the prolonged lower level consolidation is a healthy thing for cryptocurrency. At least 50 million people own scriptactive. I wish more of them”.
In November, the exchange LedgerX has brought to market long term options on bitcoin. According to the company, new financial instruments to attract institutional investors into the cryptocurrency market.
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