A trader known as willo2 lost $527,000 after betting on the outcome of MicroStrategy's Bitcoin sale. MicroStrategy filed that it had sold 32 BTC, valued at $2.47 million. Despite the sale, the odds on Polymarket for MicroStrategy selling Bitcoin before May 31 remained at 80%. Willo2 bet heavily on the outcome being confirmed within the timeframe, hoping to capitalize on the remaining 20% upside. However, Polymarket ruled that confirmations outside the market's timeframe do not qualify, leading to a likely resolution of "NO," resulting in willo2 losing the entire bet.
Trader Loses $527K on Misjudged Bitcoin Bet Following MicroStrategy Sale
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