Trading platform operator LedgerX launched the first long-term futures option on bitcoin. About writes this CoinDesk.
The agreement was concluded on Saturday morning and will expire on December 28, 2018. According to its terms, a buyer can purchase bitcoin for $ 10,000 within the specified time, that is, almost 30% higher than the current rate..
Since the buyer benefits only if the rate rises above $ 10,000 (the strike price of the option), the creation of such investment instruments can be viewed as the market’s confidence that the bitcoin rate will reach these levels within the specified period..
It has long been believed that the emergence of such long-term options in the cryptocurrency space could be the first sign of a maturing market and help attract even more money from the traditional finance sector..
The trade option was placed by LedgerX on Friday, and to the surprise of many, two investors immediately became interested in it. Under the terms of the deal, the buyer undertakes to pay the auction organizer an amount of $ 2,250.25 if the bitcoin rate does not rise to the designated level by the end of next year. If the bitcoin rate overcomes the $ 10,000 level, the buyer will be able to receive bitcoin at the option strike price. At the same time, the buyer can refuse to buy bitcoin.
“If the rate drops to zero, you don’t have to pay $ 10,000,” explained Paul Chou, CEO of LedgerX. “However, if in a year bitcoin is worth $ 20,000, you can calculate the option.”.
According to LedgerX’s own forecast, the buyer has a 25% chance of a trade being profitable..
At the same time, LedgerX notes a significant interest of traders in its main line of derivatives for working with bitcoin. Recall that in the first week of trading in mid-October, the turnover for such instruments exceeded $ 1 million. The total turnover today is about $ 16 million..
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