By tobetada on Skatehive
Remember in March when Balaji Srinivasan Made his $1M Bet? Back then he predicted that within 90 days Bitcoin would go to $1M. His argument was that US economy would go into hyperinflation (with the dollar essentially losing most of its value) and that Bitcoin would be a "safe haven" for assets. Well... not even 90 days after the bet Balaji has now conceded his bet donating 1.5M worth of crypto to charity and Bitcoin development. Kudos to him for honoring his part of the agreement, but it was probably more of a publicity stunt. He reveals more about his intentions: Srinivasan went on to say that economic catastrophe was coming and that he made the donations to make the point that “things could unwind very fast. “Many things are breaking at once,” he continued, referring to the U.S. debt ceiling, the banking crisis, bonds losing value, and the Russia-Ukraine war. “I just burned a million to tell you they’re printing trillions.” So all of this to raise attention to the bad state of the e