American entrepreneur Balaji Srinivasan, a well-known name in the crypto world, bet $1 million that the value of Bitcoin would be $1 million in 90 days.
Balaji Bets Bitcoin Value Will Be $1M in 90 Days
Balaji, who proved how serious he was in his bet by investing $ 2 million in the USDC stablecoin, was ridiculed by many people.
Balaji’s USDC transfer can be viewed on a private Ethereum address under the “Balaji Bet” tag. The transfer took place one day after Srinivasan made the bet, which he said was a non-profit bet aimed at raising social awareness.
What Triggered the Bet?
It all started with a tweet from a Twitter user, James Medlock. Medlock tweeted that he would bet anyone $1 million that the US would not experience hyperinflation. Srinivasan then quoted the tweet, claiming that he accepted the bet and that the US would experience hyperinflation.
As an additional bet, Srivinavasan stated that Bitcoin would reach a value of $1 million and asked Medlock to buy 1 BTC. If Bitcoin does not reach 1 million within 90 days, he will lose the bet and send 1 million dollars to Medlock.
Reviews about Bets
The mutual betting by the two users has excited many Twitter users, but many think Balaji will lose. Despite all the comments, Srinivasan argues that a digital devaluation of the US dollar is very likely and that everyone should buy Bitcoin.
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