Despite the fact that overnight Bitcoin price dropped to around $9,500 and is still floating in that area, many experts believe that the major cryptocurrency is still headed towards the price of $100,000 and will reach it by December 2020.
To help them bet on that outcome, the LedgerX exchange has launched a new call option, writes Bloomberg.
To be tested on retail investors first
Bloomberg reports that the regulated US-based platform LedgerX is about to launch the call option for betting on Bitcoin rising to the price of $100,000 by the end of 2020.
In June, the work of the exchange was approved by the CFTC regulator and now the platform intends to test the new investment option on retail customers first. If it goes well, institutional clients will be welcome to join in as well.
The company has already been working with institutions for a few years, offering them BTC-based derivatives.
The targeted level of $100,000 per a single Bitcoin assumes that BTC would rise ten times from the mark it is currently trading at.
Institutional investors might be interested: LedgerX CEO
Paul Chou, the head of the platform hopes that the new product will certainly attract the attention of institutional investors, since, allegedly, the company has been receiving numerous confirmations to that.
Dozens and dozens of these institutions got back to us saying we’d be interested in trading a contract like this,” Chou said. “I understand $100,000 is a large number, but a lot of us who’ve been in this space remember Bitcoin at $1, and then it hit $10 and $100 and $10,000. A $100,000 contract doesn’t even make us blink.
However, it is still unclear how much invested money would be involved with the new option at first.