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2017-12-18 — bloomberg.com
The arrival of a new futures contract that makes it easier to place short bets on bitcoin wasn't enough to undercut the cryptocurrency's march toward $20,000... Bitcoin touched a record $19,511 just minutes before CME Group Inc. began offering futures Sunday evening in a move that broadens the market for institutional traders and makes it easier to sell the cryptocurrency short.
Still, impediments remain to betting on a dive. The Chicago-based futures exchange, the world's biggest, required a 47 percent initial margin, or almost $50,000, for opening trades on a five-bitcoin future. Settlement terms are spurring some participants to question whether futures will move fully in line with the underlying asset.
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