A man from Plum purchased 0.54 BTC for $34,000, with the potential to make $20,000 if the price reaches $100,000. By hedging with 1 BTC at $60,000, he secures a $20,000 win even if he loses the bet, and stands to win up to $139,999.99 if he wins. The bet involves BTC call spreads and has attracted attention for its potential gains.
Buying the BTC 100k bet | Writing a one-touch for -15k https://t.co/PfyS1TKMsl
I mean, Mike is definitely hoping he loses this bet. Depending on how aggressively he uses the funding provided by McCormack to set up BTC call structures, he's looking at a $500k+ payday if he loses the $20k bet. Only thing that screws this up is Balaji welching on the escrow. https://t.co/5zNPkZmuc8
How's the BTC Dec 75k/100k call spread? I hear @profplum99 has em to go. Prof pay me 5k and I'll take the call spreads off your hands. Win win
Bitcoin Maxis have no idea how to construct a bet This one of many reasons why theyβre afraid of DeFi By buying 1 BTC @ $60k to hedge, @profplum99 is guaranteed to win $20k *if he loses the bet* and win up to $139,999.99 by winning the bet https://t.co/0z50QARoJY
Bitcoin Maxis have no idea how to construct a bet This one of many reasons why theyβre afraid of DeFi By buying 1 BTC @ $60k to hedge, @profplum99 is guaranteed to win $20k *if he loses the bet* and win between up to $139,999.99 by winning the bet https://t.co/0z50QARoJY
Plum man buys 0.54 BTC ~63K for 34K if we go to 100K hes made 20K thus his bet is flat if btc doesn't go to 100K hes made 100K which auto covers his 34K cost of the hedge being long that BTC https://t.co/9JF2MkRmQr
Plum man buys 0.54 BTC ~63K for 34K if we go to 100K hes made 20K thus his bet is flat if btc does go to 100K hes made 100K which auto covers his 34K cost of the hedge being long that BTC https://t.co/9JF2MkRmQr