Former CTO of Coinbase, Balaji Srinivasan, claimed that Bitcoin will reach $1 million in 90 days as a result of hyperinflation in the US.
Predictions about the price of Bitcoin keep coming. However, the most surprising prediction came from the former CTO of Coinbase.
Former Coinbase CTO: Bitcoin Will Hit $1M In 90 Days
Balaji Srinivasan, former chief technology officer of Coinbase, has bet that Bitcoin will become a million dollars. The betting began on March 17 when Twitter user James Medlock offered to place a $1 million bet on anyone that the US would not experience hyperinflation. A few hours later, the former CTO of Coinbase accepted the bet.
Sir, I believe we have ourselves a deal https://t.co/9JYaLNo9Eq
— James Medlock (@jdcmedlock) March 18, 2023
Under the terms of the claim, if the price of Bitcoin does not reach $1 million by June 17, Medlock will receive $1 million worth of dollar-pegged stablecoin USD Coin (USDC) and 1 BTC. Likewise, if Bitcoin is worth at least $1 million by the specified date, Balaji will win the bet.
According to the thread, other Twitter users helped make a smart contract with wagering terms. Srinivasan also announced that he will be moving another $1 million in USDC for another bet on the same:
“I’m transferring $2 million to USDC to bet. I’ll do this with Medlock and another person, that’s enough to prove the point. Everyone else should go and buy Bitcoin.”
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