In a shocking move, Balaji Srinivasan - the former CTO of Coinbase Global Inc. - has made it known that he predicts Bitcoin will take only three months to reach $1.0 million per coin by June 17th.
The entrepreneur and investor relates his super bullish view to the recent bank failures that he warns will hyperinflate the U.S. dollar. In a recent tweet, he said: “Central bank, the banks, and the bank regulators have bankrupted all of us. They hid their insolvency from you, the depositors. And they’re about to print $2.0 trillion to hyperinflate the dollar.”
Srinivasan is not the only one certain about Bitcoin reaching the $1.0 million threshold. He’s in a bet with James Medlock (pseudonymous Twitter speaker) to whom he’ll have to pay $1.0 million if Bitcoin doesn’t reach his suggested valuation by June 17th. Srinivasan agreed to the bet on Twitter in which he said, “you buy 1 BTC. I will send $1.0 million. This is ~40:1 odds as 1 BTC is worth ~26K. The term is 90 days.”
The discussion started on March 17th when Medlock said he was willing to bet $1.0 million that fears of hyperinflation in the United States were merely overblown – a bet that Srinivasan accepted.
Custodia Bank founder Caitlin Long has also dubbed Bitcoin an insurance policy; a scarce asset, believing that BTC will shoot up to $1.0 million per coin. Bitcoin is currently trading well above its 200-day Moving Average.
- Former Coinbase CTO says Bitcoin will hit $1.0 million by June 17th.
- Custodia Bank founder dubs BTC an insurance policy; a scarce asset.
- Bitcoin is currently trading well above its 200-day Moving Average.
- Balaji Srinivasan is in a bet with James Medlock to pay $1.0 million if Bitcoin doesn’t reach his suggested valuation.
Balaji Srinivasan, the former CTO of Coinbase Global Inc and Custodia Bank founder Caitlin Long both believe that Bitcoin will shoot up to $1.0 million per coin, with Srinivasan even going so far as to make a bet with James Medlock that if Bitcoin does not reach his suggested valuation by June 17th, he will have to pay $1.0 million.