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Former Coinbase CTO Makes Massive Bet That Bitcoin Will Rampage Past $1 Million Within 90 Days

Mar 19, 2023 · 1 min read · 104 points
Former Coinbase CTO Makes Massive Bet That Bitcoin Will Rampage Past $1 Million Within 90 Days
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Balaji Srinivasan, the former CTO of Coinbase and a former general partner at Andreessen Horowitz, has agreed to a rather large

Highlights

  • Former CTO of Coinbase and Andreessen Horowitz general partner Balaji Srinivasan has made a public wager on the price performance of BTC.
  • Self-proclaimed social democrat James Medlock initiated the bet on Friday by making a public offer to bet anyone $1 million that the United States does not go into hyperinflation.
  • American professional poker player Isaac Haxton decided to send 1 BTC to the escrow on behalf of Medlock, noting that he’ll take all the downside if he loses and none of the upside if the social democrat wins as long as he pledges to donate 70% to GiveDirectly.
  • BTC is changing hands at $27,200.34 as of press time, up roughly 36% over the past seven days
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