A few days ago it has been revealed that an undisclosed investor made a very interesting and unexpected bet. The investor, whose identity was not revealed, decided to bet $1 million on the fact that the price of bitcoin will reach $50,000 at the end of December, 2018.

Now, Business Insider revealed that this undisclosed investor is actually hedge fund BlockTower Capital. The media outlet revealed that some people familiar with the matter confirmed that BlockTower Capital was the investor who made a $1 million bet on Ledger X, an exchange for cryptocurrency options.

The main idea of the bet made by the hedge fund is that if the price of bitcoin will reach the expected amount on December 28, BlockTower Capital will be able to buy 275 bitcoins at $50,000 each. However, the money will be lost if the price of bitcoin does not grow to $50,000.

BlockTower Capital did not confirm the rumors

For the moment, BlockTower Capital has not commented on the report issued by Business Insider, so it is yet to confirm if indeed it is the investor. However, what is interesting to mention at this point is that the founder of the hedge fund, Ari Paul, shared a message regarding the bet on his Twitter page. "I wonder who bought these," his message said, also including a link to the initial reporting of the story by the Wall Street Journal. He also posted: