Last year, the crypto asset investment firm made a bold bet.. The bet is that Bitcoin would reach a value of more than $50,000 by the end of 2018.. Needless to say, the company has lost that bet.
Ari Paul Loses Bet
The full million dollar bet was made by company co-founder Ari Paul. Business Insider makes a call to the winner and highlights that BlockTower can give the option to buy exactly 275 Bitcoins at $50,000 at any time before December 28, 2018. was made at a time when. In an interview with CNBC, Paul made the following statement regarding the bet, known as a put option, “if Bitcoin goes anywhere below $50,000, this option will become seriously worthless.. But if you were to pronounce a value of $100,000 for Bitcoin, then that would mean the equivalent of Bitcoin at thirty to one.” In addition to these words, Paul also stated that he was willing to take a little risk to earn much more.
Unfortunately, for Paul, BTC was well below $50,000 and is now set at $3,895.
Anthony Pompliano Challenges
Interestingly earlier this month, Morgan Creek founder Anthony Pompliano made a similar bet that there would be a bull rise in the entire cryptocurrency industry. This is a bet that risks $1 million that cryptocurrency assets will outperform the S&P 500 index over the next 10 years.
Attention crypto critics….time to put skin in the game
Morgan Creek Digital believes the Digital Asset Index Fund will outperform the S&P 500 over the next 10 years.
$1,000,000 on the line.
Who will take the other side??https://t.co/10sQt2o2Ce
— Pomp (@APompliano) December 6, 2018
had signaled. The billionaire investor had bet in favor of the S&P 500 index against various hedge funds, and he won that bet earlier this year. He didn’t mention anything about Betting, leaving the speculation that they wouldn’t be able to put it down.. Pompliano states this in his tweet:
We issued a $1 million challenge to any professional money manager who thought stocks would outperform crypto over the next decade.
No one took us up on the offer.
Don’t listen to the naysayers. They don’t even believe what they say.
Always follow the money
— Pomp (@APompliano) December 15, 2018
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We took a $1 million challenge to professional money managers who think stocks will outperform cryptocurrencies in the next decade.
Our no one responded to our offer
Do not listen to those who say no to your offer. They don’t even believe what they say.
Always follow the money.