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News Explorer — Balaji Srinivasan Bets on Bitcoin Reaching $1 Million Due to Hyperinflation

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Mar 19, 9:53 pm

Decrypt

Balaji Srinivasan Bets on Bitcoin Reaching $1 Million Due to Hyperinflation

Coinbase's former CTO Balaji Srinivasan has wagered that the price of Bitcoin will skyrocket to $1 million by June 17 due to a rapid devaluing of the U.S. dollar. If his prediction is wrong, he will pay two individuals $1 million in Circle's USDC stablecoin each. His prediction is based on the idea of "hyperbitcoinization" and a potential market capitalization of Bitcoin of $19.3 trillion.

Coinbase's former CTO Balaji Srinivasan has wagered that the price of Bitcoin will skyrocket to $1 million by June 17 due to a rapid devaluing of the U.S. dollar. If his prediction is wrong, he will pay two individuals $1 million in Circle's USDC stablecoin each. His prediction is based on the idea of "hyperbitcoinization" and a potential market capitalization of Bitcoin of $19.3 trillion.

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