Previously, former Coinbase Chief Technology Officer Balaji Srinivasan offered a bet to economist James Medlock in which he bet $1 million on Bitcoin reaching $1 million in 90 days. However, Srinivasan said yesterday that the bet was closed by mutual agreement 45 days before the due date. As compensation, he paid Medlock $500,000, donated $500,000 to Bitcoin Core developers, and donated an additional $500,000 to the charity Give Directly. “I settled the bet in advance and donated even more than I promised. I'm not in the habit of publicly burning a million dollars. I spent my own money to send a provably costly signal that something is wrong with the economy and that there will not be a soft landing as Powell promises. Something much worse will happen,” he said. Srinivasan is convinced that the American economy will eventually reach a state of hyperinflation. In his opinion, investors will rush to secure the value of their rapidly depreciating dollars in BTC, bringing the value of the asset to the $1 million mark.

#btc #binance #eth #bnb