Here’s How to Trade the Uber IPO With Bitcoin (BTC)
— WCX (@WCXofficial) May 9, 2019
According to a recent announcement from WCX, investors will be able to go long or short Uber stock starting on May 10, right after the company’s IPO. While WCX doesn’t currently cater to U.S. traders, global investors can trade with up to 300x leverage.
“When you trade on WCX, you use BTC as collateral to speculate on the future price movement of the asset (in this case UBER),” states the WCX team. “If you expect [the] price to rise, you go long; [if] you expect [the] price to fall, you go short. Profit and loss is paid directly in BTC. No banks, no fees.”
Uber’s IPO price of $45 puts it at the low end of its target range of $44 to $50 — the company was originally expected to be valued at $120 billion in its IPO. The offering will raise $8.1 billion plus an additional $500 million in a private placement from PayPal (PYPL).
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.