Mystery Investor's Bold Bet: $22 Million on Bitcoin Options

IconCryptoNewsTerminal Staff28 Jul, 2024

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Mystery Investor's Bold Bet: $22 Million on Bitcoin Options

Bitcoin Opts for Bold In a recent move that's set tongues wagging, an anonymous investor has shelled out $318,200 for a 300 BTC call option expiring on August 9th, with a strike price of $74,000. This audacious purchase indicates a firm belief in the cryptocurrency's imminent rise. Deribit's Lin Chen sheds light on this enigmatic move, suggesting it could be a strategic response to upcoming macro events like the US interest rate decision and employment data. If Bitcoin surpasses the $74,000 mark before next Thursday, the investor stands to reap significant profits. This hefty bet highlights the growing confidence in Bitcoin's potential, solidifying its place as a viable investment option. As the crypto market continues to evolve, such bold moves may become increasingly common, reflecting the belief that Bitcoin is poised for further growth.

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