Bitcoin at $1,000,000 in 90 Days? The Insane Bet by Balaji Srinivasan


Bitcoin to $1 million in 90 days? That's what the former CTO of coinbase thinks and more than a few people are taking him seriously. All right Friends, welcome back to another Bitcoin breakdown bite. We are talking about obviously the same thing that everyone is talking about, which, as it turns out, might be the point. That is biology, srinivasan, the former CTO of coinbase, and generally highly regarded if out there sometimes thinker, he has predicted that Bitcoin will go to $1 million inside the next 90 days, largely because of societal collapse on the back of the banking system. So McKenna here sums this up, biology thinks, most banks are insolvent in the U.S., Bitcoin goes to 1 million 90 days, hyperinflation is imminent, converted 99% of net worth to Bitcoin, U.S. Civil War happens, effing wild. All right, so we obviously today are going to get into what exactly biology is talking about and then all the responses and I'll give you a little bit of my take at the end of it. So, a few days ago, biology put up this tweet called the bit signal. He says, how do you ring the fire alarm on the Internet? How do you show it's not a false alarm? I'm putting up the bit signal. Now, this first version of this tweeter, this first tweet was basically a request for people to share the best charts, graphs, statistics that show effectively how screw the current financial system is, the type of thing that biology argues you wouldn't get from normal mainstream media and he was going to give a $1000 in Bitcoin for the best thousand tweets. He is arguing here that the existing system, the central bankers, et cetera, have hid insolvency from us and they're about to print a huge amount of money in order to save themselves from that. And so Bitcoin is likely to be the recipient, but more than just Bitcoin, it's about the underlying story. So that went up on March 16th. Then the next day, on March 17th, someone says, I'll bet anyone $1 million that the U.S. does not enter hyperinflation. James medlock is a neoliberal guy or whatever, I guess he says social Democrat in the streets, market socialists in the sheets. And so he has this bet on Twitter and biology says I will take that bet. You buy one Bitcoin, I will send 1 million USD odds 40 to one odds as Bitcoin is worth about 26 term is 90 days. Blah, blah, blah, blah, and all the terms and stuff. And this just set the Internet on fire.

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