Due to the US’s hyperinflation, Balaji Srinivasan has staked $1 million on Bitcoin’s price reaching $1 million in the next 90 days. Balaji agreed to James Medlock’s $1 million wager when he made it known that the US wouldn’t experience hyperinflation. With the betting terms, other Twitter users assisted in setting up a smart contract. The future of the U.S. economy was the subject of a bet between Srinivasan and Medlock, with Srinivasan predicting an oncoming catastrophe that will cause the dollar to deflate and hyperinflation. In 2023, the price of bitcoin is projected to soar by 66%, outpacing Wall Street bank equities, up 65% year to date.
Former Coinbase CTO makes $2M bet on Bitcoin’s performance
