Future ‘Shock’? Phemex Probably Won’t Be Even Mildly Surprised
AccessTimeIconSep 20, 2023
Exchange wagers 1,000 BTC, claiming it knows how much bitcoin will be worth at the end of next month, and invites you to take the bet.
Phemex, a centralized exchange making moves to partially decentralize, is celebrating Bitcoin’s 15th anniversary by placing a big bet: If the bellwether token is worth $50,000 or more on October 31st, the exchange will pay out 1,000 BTC to Phemex Soul Pass holders. To do the easy math, that’s $50 million. Sure, it’s unlikely that BTC’s dollar-denominated value will double in the short term – but would you bet that much that it won’t?
AccessTimeIconSep 20, 2023
Exchange wagers 1,000 BTC, claiming it knows how much bitcoin will be worth at the end of next month, and invites you to take the bet.
Phemex, a centralized exchange making moves to partially decentralize, is celebrating Bitcoin’s 15th anniversary by placing a big bet: If the bellwether token is worth $50,000 or more on October 31st, the exchange will pay out 1,000 BTC to Phemex Soul Pass holders. To do the easy math, that’s $50 million. Sure, it’s unlikely that BTC’s dollar-denominated value will double in the short term – but would you bet that much that it won’t?
