Betting on Bitcoin to reach $1 million in 90 days
Will you take the risk? Well, why not, especially if you’re a former Coinbase CTO.
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Balaji S. Srinivasan has accepted a bet proposed by charismatic Twitter user James Medlock to wager a whopping $1 million that hyperinflation won't hit the US.
Balaji proposed that the bet be based on the USD and BTC exchange rate in 90 days:
If BTC > $1 million – Balaji gets all the assets;
If BTC < $1 million – Medlock gets all the assets.
To everyone's surprise, professional poker player Isaac Haxton also jumped into the mix, stating that he has 1 BTC and is willing to bet it instead of Medlock. Haxton isn't afraid of losing, and if Balaji wins, he won't even claim the money.
The participants have legitimized their financial relationship through a smart contract and escrow.
This adventurous idea gained traction on Twitter so quickly that even CZ volunteered to be the bet's keeper.
Are these guys making an informed decision or just having some fun because they can afford it? We'll have to wait until summer to find out!
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