I'm not entirely sure but I think to cash in you would need to find willing buyers at the price you want. So it works similar to trading. So if you want $1mil

I'm not entirely sure but I think to cash in you would need to find willing buyers at the price you want. So it works similar to trading. So if you want $1million dollars at $700 per bitcoin you would have to find a market with enough people to buy at $700.