This $1 Million "bet" On Bitcoin Reaching $50,000 Has Been Lost
This $1 Million “Bet” On Bitcoin Reaching $50,000 Has Been Lost ByJoseph Gibsonon January 9, 2019inArticles›How Much Does Late in 2017, Ari Paul of cryptocurrency hedge fund BlockTower made a bet of sorts that Bitcoin would reach a price of $50,000 in a year’s time. The bet consisted of spending just under a million bucks on Bitcoin call options which would give him the opportunity to buy 275 bitcoins at $50,000 apiece any time between when the call options were purchased and Friday, December 28, 2018....