Bitcoin‘s surge past $50,000 has brought significant earnings to investors who bet on the “Yes” side of Polymarket’s contract asking if Bitcoin would reach $50,000 by February. An investor with the username u/MeLLoN98 achieved a substantial return rate of 550%, securing high profits and has now placed a new bet targeting a record peak for BTC at the end of the first quarter.
From $14,000 to $91,000 Earnings
The days of complex strategies or high-risk bets to make money in the cryptocurrency market are behind us. Some investors are now achieving above-market returns through decentralized prediction platforms like Polymarket.
One of the leading figures from Reddit’s r/CryptoCurrency community, u/MeLLoN98, converted 110,000 Moons (the subreddit’s token) into 14,000 USDC and purchased over 90,000 shares on Polymarket at an average price of $0.15 per share. With Bitcoin exceeding $50,000, the contract concluded in his favor, resulting in earnings over $91,000.
Using free MOON tokens to achieve this gain, u/MeLLoN98 leveraged his bets on Bitcoin’s price and plans to accumulate more MOONs, especially with the upcoming expansion of MOON liquidity on Arbitrum One through a partnership with Celer Network.
Paid Nearly $27,000 for New Bet
As known, Polymarket hosts various betting contracts related to Bitcoin and Ethereum. One of these contracts, launched in December, allows investors to speculate whether Bitcoin’s price will reach a record level on Binance by March 31. Shares on the “Yes” side of the contract are currently trading at $0.18, indicating an 18% probability that Bitcoin will surpass $68,789 by the end of the first quarter.
Operating under the name RedditMoons-10$ on Polymarket, u/MeLLoN98 bought over 230,000 shares on the “Yes” side of the contract, aiming for a potential payout of $230,000. “This bet is much crazier. I paid about $27,000, and if it happens, I’ll get $230,000,” said u/MeLLoN98, expressing his confidence in continuing to challenge the odds for significant earnings in the crypto market.
