Former Ohio Treasurer Loses $1.2M on Bitcoin ETF Options

[madmax]

Former Ohio State Treasurer Josh Mandel — once known as one of Bitcoin’s earliest political advocates — has revealed a $1.2 million loss on call options tied to BlackRock’s iShares Bitcoin Trust (IBIT).

Mandel went “all in” betting that Bitcoin would hit $444,000 by November 8, but the options expired worthless.

“You’re only as good as your last call,” he wrote on X, calling the disclosure an act of transparency.