Today at the airport, a friend suddenly received a call from a private banking client manager, recommending the friend to buy the $IBIT FCN, with the corresponding price at bitcoin:native $52,000, for a duration of three months, with an interest (premium) of 12%. The friend was somewhat tempted because he was already preparing to bottom out around $55,000, but he was not sure if Bitcoin could really drop to this price, and he still had a short position, so he was not very eager.

Then I explained the concept of dual currency to him, and I checked on the spot that at around $54,000, the premium for two days would be about 25%, which is better than buying the three-month FCN.

I demonstrated to him a large-scale dual currency transaction, with a price drop of 5% from today's noon price, which is below $61,000, settling by Friday afternoon, with an interest of 105.1%. I bought $5,000 to use as a demonstration. If by Friday afternoon at 3 PM, the price of Bitcoin falls below $61,000, I will buy $5,000 worth of BTC at the price of $60,970. If it's above $61,000, I could earn about $14 in interest.

I know many friends don’t like dual currency, but when private banking starts pushing FCN, this structured bottom-fishing financial product is more suitable for those who are already prepared to bottom out. However, for friends who are not very familiar with options, especially those from another traditional industry around us, hearing about a 12% interest made their eyes light up.

Seeing a 105.1% annual return, they were quite overwhelmed. Today, the professional investor certification for the exchange has already been completed, and tomorrow I will set up an on-chain wallet. After I open an account in Singapore, I will engage in dual currency.

I'm not mindlessly encouraging everyone to do dual currency, but given the current situation, if you’re indeed preparing to bottom out Bitcoin, a dual currency for about 72 hours has a high cost-performance ratio. Of course, if you are skilled in options, selling PUTs might yield higher returns.

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