Company’s Drama That Bitcoin Will Be $ 50,000
In 2018, BTC was expected to be $ 50,000 for BlockTower Capital.
BlockTower Capital last year, the end of 2018 by the end of the Bitcoin price of $ 50 thousand in the direction of a $ 1 million claim was made. Without a miracle by the end of the week, the hedge fund that manages its 130 million-dollar assets will suffer over $ 1 million in options.
On December 20, 2017, he made the allegation for Ari Paul, co-founder and chief information officer of BlockTower Capital. The claim, according to Business Insider, was that Paul, who spent around $ 1 million on the purchase option, would get 275 bitcoins at a price of $ 50,000 before December 28, 2018.
BlockTower could spend up to $ 13.8 million if options turned into reality. Considering that BTC will not reach that price in a few days, we can say that the company has lost.
The company had stood behind its verdict with the word a small amount that was risked to win a lot. In a CNBC interview dated December 26, 2017, Paul commented, This is something that may not be happening, Paul added. In an interview with Business Insider this month, Paul said the Bitcoin rally is not waiting and they will not make any claims about the rally.
Ari Paul’s BlockTower Capital is not the only company that has been wrong about the Bitcoin price this year. Bitcoin at Morgan Creek Digital Assets – S & P 500 failed to make claims on the coast.