Why did Balaji Srinivasan bet $1 million on Bitcoin?

Balaji Srinivasan's bold bet on Bitcoin reaching $1 million per coin within 90 days was a daring move that captured the attention of the crypto community and the media. Despite the short-term and possibly intentional failure of the bet, Srinivasan's bet raised essential questions about the future potential of Bitcoin.

Can Balaji keep 1 BTC and 1 million in USDC?

On the contrary, if the price of an individual Bitcoin were to be valued at $1 million by the same date, then Balaji could keep the 1 BTC and the $1 million in USDC. I will take that bet. You buy 1 BTC. I will send $1M USD. This is ~40:1 odds as 1 BTC is worth ~$26k. The term is 90 days.

Did Balaji Srinivasan bet $1 million?

Betting $1 million that the bitcoin price would hit $1 million by June 17, 2023, Balaji Srinivasan raised questions about his convictions. This is an opinion editorial by Ivan Serrano, a growth marketer and business consultant. In the cryptocurrency world, bold bets and outrageous predictions are not uncommon.