Not sure why so many people think OP actually bought 10,000 BTC. He clearly said in his original post that the option cost him $7.50 per BTC. 7.5*10,000 = $75,000.
I don't think it's a stupid move. Looking at the Bitcoin price charts, the trend has been going downwards ever since late 2013. Is it really that unrealistic to think that it won't continue declining for another couple of months?
I wonder what would happen if the coin price moves in the other direction. I'm sure you have all the plans put in place in case the result did not turn out as what you expected? By the way, just wondering where did you manage to secure that amount of funding? Kind of curious since that is not small amount by any means.
You're probably thinking of shorting, which is a different thing. An option is essentially a bet that Bitcoin will/won't be above/below a certain price on/by a certain date.
I don't get how this works. How can he acquire 10000 for 75$? Where is the business for the one offering the BTC for such price? I guess im missing the point here.