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


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. 

Products You May Like

Articles You May Like

Total crypto market-cap hits $850M as Bitcoin and altcoins recover from FTX’s collapse
UK property demand slides 44% after market-rocking mini-budget, study shows
Legal professionals astonished as SBF admits failures, apologizes 12 times in interview
Binance deploys $1 billion to keep crypto industry afloat after FTX collapse
3 lesser-known ways to trim your 2022 tax bill or boost your refund before year-end

Leave a Reply

Your email address will not be published. Required fields are marked *