Anonymous Investor Makes a Big Bet: $100K BTC Call Option Purchased

IconCryptoNewsTerminal Staff30 Jul, 2024

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Anonymous Investor Makes a Big Bet: $100K BTC Call Option Purchased

Deribit's Asia business development head, Lin Chen, recently disclosed that a trader sold a December expiry 65,000 call option for a $4.89 million premium and simultaneously acquired a December expiry 100,000 call option, representing 551 BTC. This substantial transaction indicates a bullish sentiment among investors, anticipating a potential surge in Bitcoin's value towards the end of the year. The purchased call option grants the buyer the right, but not the obligation, to buy Bitcoin at a strike price of 100,000 on or before the option's expiration date in December. This strategic move reflects the investor's belief in Bitcoin's long-term growth prospects and their willingness to potentially profit from a significant price increase. The size and nature of this transaction have captured the attention of the cryptocurrency market and underscore the growing interest in Bitcoin as an investment asset. ```

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