Based regulated crypto derivatives and clearing platform LedgerX is giving retail investors the chance to bet on Bitcoin hitting $100,000 by 2020.New Possibilities for the Retail Crypto Trader.
As Bloomberg reported on July 17, the $100,000 call option implies that Bitcoin's current valuation could increase over ten-fold and hit a $2 trillion market capitalization.
This bullish bet on Bitcoin is the first crypto derivatives product open to mom and pop investors since LedgerX sealed approval from the U.S. Commodity Futures Trading Commission to serve as a designated contract market for clients of any size, as Cointelegraph reported in June.
Institutional investors have been able to trade derivatives via the platform for two years.
"Dozens and dozens of these institutions got back to us saying we'd be interested in trading a contract like this. I understand $100,000 is a large number, but a lot of us who've been in this space remember Bitcoin at $1, and then it hit $10 and $100 and $10,000. A $100,000 contract doesn't even make us blink."
As reported in June, BitMEX - the world's single biggest bitcoin derivatives provider - posted record volumes across its operations as Bitcoin hit $13,000.
The fund's Bitcoin Trust was up almost 300% on the year as of July 9.
The institutional market is also poised for the roll-out of physically-delivered bitcoin futures by institutional cryptocurrency platform Bakkt on July 22.
Anthony Pompliano - the co-founder of Morgan Creek Digital Assets - has recently predicted that Bitcoin will hit $100,000 just a year later than LedgerX's call option, eyeing 2021.
To press time, Bitcoin is trading just north of $9,500 - down almost 24% on the day and almost 11% on the week, according to Cointelegraph's Bitcoin Price Index.
Retail Investors Can Now Bet on Bitcoin Hitting $100,000 by 2020
gepubliceerd op Jul 17, 2019
by Cointele | gepubliceerd op Coinage
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