Here’s my two sats on the whole Balaji bet… USD has been hyper-inflating against BTC for years already. We’ve had multiple 50% monthly devaluation of the dollar against Bitcoin for an average of devaluation of 100% annually. It’s been happening. I doubt we’ll see BTC at 1 million in 90 days but his point is well taken nonetheless.
Discussion
My guess is, it’s a marketing move and he kind of wins either way. He’s a billionaire known to have thousands of bitcoin. So this will certainly get a lot of free media attention and in Silicon Valley, where is he quite revered, influence a lot of rich folks to buy some bitcoin just in case.
In the likely event he loses the bet, he still comes out ahead as the pump he induces will inflate his bags substantially more than the $2M usd he pays out.
In the end, this is good for bitcoin. It will draw more attention to bitcoin and the crappy fiat system. It will bring more ppl into bitcoin. And hopefully more people will self custody when they understand the ramifications of what Balaji is predicting happens.
