Balaji bought the dip. Shouted that bitcoin would be 1 mil in 90 days, hoping fomo ensues.

He already made his money back and 1m is throwaway money for him. But in 90 days when bitcoin is inevitably up a bit, Balaji will still have made a massive profit and will declare he is wrong by giving up 1 mil while pocketing at least 20.

Also gets free attention: win-win for him.