Home Bitcoin News Ride ‘Em, Cowboy: Bitmain’s Marketing Gambit Ups Its Texas-Sized Position on Bitcoin – Coindesk

Ride ‘Em, Cowboy: Bitmain’s Marketing Gambit Ups Its Texas-Sized Position on Bitcoin – Coindesk

by admin

It’s possible the company sold bitcoins in the cash or futures markets, as options traders often do. Given market prices, the time to expiration and the market’s expected volatility, the company would only have to sell just 7.4 bitcoins for every 62 options it gives away to be effectively hedged. If it expects to sell 500,000 units while the incentives are in place, for instance, Bitmain will need to sell 3,700 BTC – $26 million worth – to offset its options. 

Let’s block ads! (Why?)

Source link

Related Articles

Leave a Comment

CAPTCHA ImageChange Image

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More