Bitcoin bull and former Coinbase CTO Balaji Srinivasan has released a statement on Twitter claiming that the US actively ignores looming financial meltdowns. He also said that he is still optimistic about Bitcoin hitting the $1M tag but in 90 months now rather than 90 days.
Balaji concedes that Bitcoin won’t hit $1M in 90 days and is not happy with US economic meltdown
Bitcoin enthusiast Balaji has confirmed that the famous bet that Bitcoin would hit a $1M price tag within 90 days is officially closed out by mutual agreement. He made this statement via Twitter, saying that he conceded the possibility of that happening and has fully paid the bet amount and exceeded it by 50%.
Balaji said that he paid the amount in provable on-chain donations as follows:
1) $500k to Bitcoin Core development via Chaincode: http://bit.ly/core500k
2) $500k to Give Directly: http://bit.ly/gived500k
3) $500k to Medlock: http://bit.ly/med500k
In his Twitter statement, he said that he honored the bet because he believes in the public good but is disappointed that it’s not feasible to rely on the public sector anymore for alarms when something needs to be fixed.
He claimed that Treasury’s Janet Yellen knew the 2008 financial meltdown was coming but didn’t bother telling anyone. He said that Yellen claimed the economy would face a mild recession only for a global collapse to happen 158 days later.
An excerpt from his tweet read:
“So I spent my money to send a provably costly signal that there’s something wrong with the economy and that it’s not going to be a “soft landing” like Powell promises — but something much worse.”
He added links to articles covering the 2008 financial meltdown and a video asking people to gather information and figure out if we are indeed headed for soft economic turbulence.
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