- 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.”
“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.