Just talked to the house guy today actually. Turns out the joke's on you, he used his Bitcoin to open a massive leveraged position in the 600's and closed it just this morning. Apparently he not only still has his original capital, but a few hundred thousand dollars worth of Bitcoin more in his stash.
Who knew!?
Just kidding.
To be fair to this guy it is possible that he somehow invested his bitcoin in something that would generate more returns measured in bitcoin then the priced has declined in terms of dollars. Or he could have decided that he wanted to open a short position and now has profited handsomely from the price declines