Balaji pays out his crazy $1 million Bitcoin bet, 97% under price target

A closely watched wager between former Coinbase chief technology officer Balaji Srinivasan and pseudonymous Twitter user James Medlock has been closed, with Srinivasan paying $1.5 million to settle. The wager commenced on March 17 when Medlock offered to bet anyone $1 million that the United States would not experience hyperinflation. A few hours later, the former Coinbase executive accepted the bet, claiming that an impending crisis would lead to the deflation of the U.S. dollar and, thus, to a hyperinflation scenario, taking the BTC price to $1 million. As part of the deal, Srinivasan paid Medlock $500,000, donated $500,000 to Bitcoin core developers and gave an additional $500,000 to the nonprofit charity, Give Directly.

11 Likes

This is fun

2 Likes

This is big scam

2 Likes

1M for Bitcoin in 90 day? This is crazy dream!

2 Likes

this is mad

2 Likes