LedgerX Unveils $100,000 Bitcoin Call Option for Retail Investors
- The company gained a license from the CFTC last month to offer crypto futures.
United States-regulated LedgerX has launched a call option for bullish Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term investors who think the price of the digital currency will surpass $100,000 by December 2020.
According to a July 17 Bloomberg report, any investor - retail or institutional - can put the call option on the price of the original cryptocurrency. Should bitcoin hit the option's target price, it will mark a 10-fold increase from the current market price, making it a digital currency with a $2 trillion market cap.
The company introduced the new derivative amid demand by its institutional customers with assets between $10 million and $1 billion.
“Dozens and dozens of these institutions got back to us saying we’d be interested in [a] trading contract like this,” Paul Chou, chief executive of LedgerX, told Bloomberg.
“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.”
A big but achievable goal
After its launch in 2009, the popularity and price of Bitcoin skyrocketed in 2017 when the coin hit its lifetime peak of around $20,000. However, due to increased selling pressure, the value of the coin slipped to $3,500, before rebounding to $14,000 at the end of June 2019. Currently, the digital currency is trading at $9,600 after shedding 10 percent of its value in the last 24 hours, according to Coinmarketcap.com.
In June, LedgerX received a green light from the Commodity Futures Trading Commission (CFTC CFTC The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss Read this Term) to launch a physically-settled Bitcoin derivatives contracts. It thus beat its competitors, including Bakkt, ErisX, Seed CX, and CoinFLEX to provide such services first in the US market.
Meanwhile, the demand in the Bitcoin futures market is also skyrocketing. Last month, CME Group recorded $1.7 billion in notional value in Bitcoin futures. The platform is also experiencing an influx of new investors.
United States-regulated LedgerX has launched a call option for bullish Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term investors who think the price of the digital currency will surpass $100,000 by December 2020.
According to a July 17 Bloomberg report, any investor - retail or institutional - can put the call option on the price of the original cryptocurrency. Should bitcoin hit the option's target price, it will mark a 10-fold increase from the current market price, making it a digital currency with a $2 trillion market cap.
The company introduced the new derivative amid demand by its institutional customers with assets between $10 million and $1 billion.
“Dozens and dozens of these institutions got back to us saying we’d be interested in [a] trading contract like this,” Paul Chou, chief executive of LedgerX, told Bloomberg.
“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.”
A big but achievable goal
After its launch in 2009, the popularity and price of Bitcoin skyrocketed in 2017 when the coin hit its lifetime peak of around $20,000. However, due to increased selling pressure, the value of the coin slipped to $3,500, before rebounding to $14,000 at the end of June 2019. Currently, the digital currency is trading at $9,600 after shedding 10 percent of its value in the last 24 hours, according to Coinmarketcap.com.
In June, LedgerX received a green light from the Commodity Futures Trading Commission (CFTC CFTC The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss Read this Term) to launch a physically-settled Bitcoin derivatives contracts. It thus beat its competitors, including Bakkt, ErisX, Seed CX, and CoinFLEX to provide such services first in the US market.
Meanwhile, the demand in the Bitcoin futures market is also skyrocketing. Last month, CME Group recorded $1.7 billion in notional value in Bitcoin futures. The platform is also experiencing an influx of new investors.