Trader Claims $250,000 Grew to $3.4 Million During Bitcoin (BTC) Market Decline

Trader Crash claimed Friday that he turned $250,000 into $3.4 million during this week’s market decline, but his post included no transaction history for the claimed results.

Crash also said one options contract rose from $130 to $25,000 in six hours. He described a Bitcoin (BTC) put as a 150x return but did not say whether it was the same trade.

The rounded figures put the reported ending amount at 13.6 times the starting amount. Crash’s post did not show whether deposits or withdrawals affected the account total or whether the gains were realized.

He did not specify the trading venue, contract type, strike, expiration, entry and exit prices, or fees. A put option gives its buyer the right to sell an asset at a set price. Its premium can rise as Bitcoin falls, but it also depends on volatility and time to expiration; a buyer can lose the premium if the option expires worthless.