Entrepreneur bets $1 million that Bitcoin will rise sharply
Former Binance CTO Balaji Srinivasan assured that bitcoin will have a significant increase in the next 90 days
American businessman and investor Balaji Srinivasan has bet that the American economy is on the verge of collapse and that Bitcoin will see a meteoric price rise in the next three months due to hyperinflation in the United States.
Srinivasan made this bet in response to a tweet from James Medlock, who offered to bet $1 million that the US will not experience hyperinflation.
Under the terms of the bet, if the cryptocurrency does not reach $1 million in 90 days, Medlock will keep $1 million in USDC and Bitcoin, but if Bitcoin reaches the anticipated level, Srinivasan will keep $1 million. and the funds in BTC.
The bet is based on the differing views of Medlock and Srinivasan on the future of the US economy and the current uncertainty about the country’s banking system.
Srinivasan believes that hyperinflation is on the way and that the impending crisis will push the US economy into a hyperinflation scenario which in turn could send the price of Bitcoin to new all-time highs.
(Reference image source: file)
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