Former Coinbase CTO has made a millionaire bet on Bitcoin’s price over the next 90 days.
Balaji Srinivasan is an angel investor, tech founder, and a Wall Street Journal bestselling author. He was also the former CTO of publicly listed crypto company Coinbase and a general partner at Andreessen Horowitz (A16z).
On 17 March 2023, Twitter user James Medlock offered to bet anyone $1 million that the US economy would not experience hyperinflation.
Mr. Balaji responded to this guy and accepted his bet and explained that “You buy 1 BTC. I will send USD 1M. This is ~40:1 odds as 1 BTC is worth ~$26k. The term is 90 days.”
In short, the whole betting game between these people is acting as a big positive wave among Bitcoin lovers. Through the bet, Srinivasan tried to predict that Bitcoin will hit $1 million in the next three months.
Bitcoin price action
The current trade price of Bitcoin is $27,214 & this trade price is 33.5% higher over the last 7 days’ trade price.
The all-time high of Bitcoin is $69k per BTC, which hit in the 2021 bull run because of the support of Tesla CEO Elon Musk.
After the downfall of Bitcoin from $69k to $25k, Bitcoin experts claimed that the next all-time high Bitcoin price will be $100k ( i.e $1 Million).
Few media reports claimed that Srinivasan is going to lose this bet but his bet in support of Bitcoin will surely show that Srinivasan is also one of the biggest Bitcoin proponents.
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