LedgerX’s Bitcoin Long-Term Equity Anticipation Securities Pegs at $10,000
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LedgerX’s Bitcoin Long-Term Equity Anticipation Securities Pegs at $10,000
On Friday, LedgerX introduced its first Long-Term Equity Anticipation Securities (LEAPS). The contract is set to expire on the 28th December, 2018.
As per the terms set by the firm, the investors can buy the securities at $10,000 on that date, an almost 30 percent premium on today’s price.
But unlike future swaps, buyers are not obligated to purchase the asset. They only have to pay a price of $2,250.25 for the trade. So if by the end of the expiration date the price of Bitcoin is less than $10,000, the seller will only collect $2,250.25 from the buyer. But if it ... (read more)
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