Home LedgerX sets the bar high for retail investors with the new $100,000 Bitcoin call option
Crypto News

LedgerX sets the bar high for retail investors with the new $100,000 Bitcoin call option

  • LedgerX option targets investors betting that Bitcoin will trade above $100,000 by December 2020.
  • A $100,000 contract does not even make us blink,” LedgerX CEO Paul Chou.

The United States-based LedgerX has released to the market a call option for the leading digital asset Bitcoin. The new trading option targets investors betting that Bitcoin will trade above $100,000 by December 2020.

As stated by a Bloomberg report on July 17 both retail and institutional investors can now put a call option on the original digital asset’s price. This means that if the asset hits the target price, it will be a 10x rise from the current market value, in turn, making Bitcoin a crypto with a $2 trillion market cap.

Also Read:  Bitcoin price analysis: BTC/USD tumbles under $10,000 for the second time in July- Next stop $8,800

Paul Chou, the CEO of LedgerX told Bloomberg:

“Dozens and dozens of these institutions got back to us saying we’d be interested in trading contract like this.”

He continued:

“I understand $100,000 is a large number, but a lot of us who’ve been in the space remember bitcoin at $1, and then it hit $10 and $100 and $10,000. A $100,000 contract does not even make us blink.”

LedgerX was in June this year given the go-ahead by the Commodity Futures Trading Commission (CFTC) to bring to the market physically settled Bitcoin derivatives contracts.

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.