The $1 million bitcoin bet Dis

2023-03-27

The $1 million bitcoin bet

Discussion of where the digital coin's price could go this year has been rife since Balaji Srinivasan, an investor and the former technology chief at Coinbase, wagered on Mar. 17 that bitcoin would be worth $1 million or more in 90 days. He bet $2 million.

The wager was in response to a Twitter user who said that they would bet $1 million that the U.S. does not enter hyperinflation.

Srinivasan argued that the "world redenominates on Bitcoin as digital gold" as hyperinflation kicks in, erodes the value of the U.S. dollar, and nations, individuals and companies begin to buy large amounts of bitcoin. Hyperinflation is the massive rise in prices in an economy.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

VestTig
2023-03-27
VestTig
thats some news
ONG1977
2023-03-27
ONG1977
k
Fishabeng
2023-03-27
Fishabeng
[Smile]
ehkay
2023-03-27
ehkay
[Surprised][Angry]
wywy
2023-03-27
wywy
g
The Amateur
2023-03-27
The Amateur
👍

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