What is Balaji's massive bet on Bitcoin (BTC)?

Balaji’s massive bet on Bitcoin (BTC) has led to a storm in the crypto community discussions. The veteran investor’s comments come as the Fed has moved to money printing again amid a banking crisis unfolding in the US. Balaji writes:

Will Balaji's bet turn true?

Analyst Ali Martinez says that for Balaji's bet to turn true an entire Chinese GDP should flow into Bitcoin in a single day, seeming impossible. On Saturday, March 18, veteran investor Balaji Srinivasan raised a major alarm stating that the United States is quickly moving into hyperinflation taking a massive $1 million bet on this.

Is Balaji worth $1 million in 90 days?

Popular market analyst Alex Kruger wrote: Incredibly many taking the Balaji $BTC to $1 million in 90 days view seriously, because he is Balaji. This is an example of the cognitive bias “Appeal to Authority”. Chances of that happening are 0.0000%. The bet is insane unless there’s an ulterior motive.

What happens if BTC doesn't hit the price target?

If BTC reaches $1 million within the set time frame, he gets to keep Medlock’s 1 BTC and the $1 million deposited. However, if BTC does not hit the price target in 90 days, Medlock gets the $1 million and keeps the 1 BTC. Balaji said he would deposit $2 million to have the bet with Medlock and any other person.