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❕NEWS Former Coinbase CTO predicts Bitcoin to hit $1M by June in $1M bet

A

ammu40

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Former Coinbase CTO Balaji Srinivasan has made a $1 million bet via Twitter that Bitcoin will reach $1 million by June 17 due to a rapid devaluation of the US dollar, sparking debates on Twitter about the feasibility of his prediction. Srinivasan believes that the global economy is on the cusp of change, leading to "hyperbitcoinization" and the redenomination of the global economy on Bitcoin as digital gold. His bold bet has generated renewed excitement and hope in the crypto market after a tough 2022, a time when prices plummeted and numerous crypto firms collapsed.
 
Well the 1 million dollar mark is a very high and very unlikely to reach. There are certain other factors to consider besides the rapid devaluation of the US dollar. I believe that landmark is too high. There should be smaller ones to conquer first.
 
That's probably the joke he has shared with all of us or before 3000 atleast that is not going to happen because can not achieve this level of growth as everyone knows about it the companies wont allow that to happen in firstly indeed .
 
Well i wonder what made him so cooky optimistic to think bitcoin will hit that enormous amount... is he a crypto seer or forcaster? i think he needs to be on a mental check to know if he's alright.. betting with a million dollar, maybe he just wants to throw some of his riches outside...(I'm not insulting)... if that should happen then there's something he knows, and he's not gonna tell.
 
he is also a person and can say and can say anything at all he needs to and wants to say and we do not think that any body can stop him when you have the ingptence people trust you and follow so many people will be actually setting their targets on selling bitcoin at that price indeed on exchanges.
 
It seems to me that all this nonsense that comes to twitter is probably intentional and just a joke, He also has a link with Coinbase although it no longer belongs to it, maybe it just wants to create a little more FOMO for people to buy and that's it, if you apply the mathematics you will see that this is not possible by June 2023.
 
That's certainly not possible bitcoin cant even reach $35k by June let alone millions it is definitely creating a fake hype using the maxima list approach but the actual users understand such things happen only when there is a chance for it to flourish and now days hypes can not flourish well indeed .
 
That's certainly not possible bitcoin cant even reach $35k by June let alone millions it is definitely creating a fake hype using the maxima list approach but the actual users understand such things happen only when there is a chance for it to flourish and now days hypes can not flourish well indeed .
I, like you, do not believe this latest movement of Bitcoin, it seems to me that it is a bulltrap, but this is only my opinion, if Bitcoin were to grow to 1 million in June, its capitalization should be multiplied by 37 times more or less, it should surpass gold and everything in capitalization and be ranked number 1 of the most valuable assets in the world, if we analyze this, we can see the nonsense that this man has said.
 
Yes that's right the supply of gold is almost unlimited if we compare it at a scale and there are millions of people who will take it any day and give you anything you want but for bitcoin not everyone in the world will accept that some might ask you for local currency to give you even a glass of water indeed .
 
That's a wild and overambitions prediction for such earlier time but for the long term I believe Bitcoin has a possibility of reaching these heights,say like 10 to 20 years from now
I believe the is in a rapid transition from centralisation to decentralisation.We also see banks declaring insolvency meaning they can no longer be trusted long term.People are turning to other means of storing their money
 
I do not believe that bitcoin will be able to reach $1mil even in more than 50 years there will always be people that will take advantage when it is going up only and they will try to break the market down by selling their holdings and will try to control markets actually .
 
I do not believe that bitcoin will be able to reach $1mil even in more than 50 years there will always be people that will take advantage when it is going up only and they will try to break the market down by selling their holdings and will try to control markets actually .
Indeed.I think the whales are becoming too greedy with bitcoin and they no longer want to hold it long term without liquidating. They are now more interested in making money not in making the Bitcoin project a success.Bitcoin ends up being in several pump and dumps instead of it trending upwards in a bullish rally
Large investors like Cathie Wood are firm believers in Bitcoin reaching 1Million but I think this poses a threat to the centralised financial system if bitcoin grows this big
 
That's a wild and overambitions prediction for such earlier time but for the long term I believe Bitcoin has a possibility of reaching these heights,say like 10 to 20 years from now
I believe the is in a rapid transition from centralisation to decentralisation.We also see banks declaring insolvency meaning they can no longer be trusted long term.People are turning to other means of storing their money
Yes, but this cycle happens very often, that is, banks go bankrupt, people lose confidence for a while, then the economy flourishes again and people forget the past and trust them again, only those who remember what they happened, they will act differently, that is, those who do not know their history are doomed to repeat it, and it is more than clear that human beings soon forget and make the same mistakes over and over again.
 
Well holders will keep holding but those who trade it make better yearly returns if you ask me a better option I would say trading off and making continuously is far better thing to do than to look for a one income indeed actually .
 
I still remember the stock-to-flow prediction with its charting. These jokes are never old and will keep here until Bitcoin dies, yes everything has its own life cycle/time. 10 years ago, Bitcoin is something spectacular where you can send money borderless, fast, and cheap, now? Not so much. I'm not saying that BTC can't be successful and priced at 1 million USD, but at the current development, I see nothing worth the spotlight. If there's no good news about the tech, only price manipulation can get it to 1 million USD.
 
I feel exactly the same though time will tell what happens even if it crosses $200k in 5 years that would be a really big achievement and therefore we should keep our targets and desires low so that we can acheive the success with crypto .
 
Well the 1 million dollar mark is a very high and very unlikely to reach. There are certain other factors to consider besides the rapid devaluation of the US dollar. I believe that landmark is too high. There should be smaller ones to conquer first.
Probably that could be a very expensive joke, that figure stated there is a very high one, and I don't see bitcoin attaining such figure this year, it's practically impossible, there are numerous factors to consider before it will arrive at such figure.
 
It will not reach there in 5 years God knows everything that will happen but we have to make sure that we believe in things properly after understanding how they impact us in the first place actually indeed .
 
This is the joke of the century. I doubt if he is actually at his right senses. I think he is trying to draw attention, let him tell who he wager the money with.
 
I think he was high as well as joking because he just wanted to create hype but that was too much actually you are asking for 50 times the price which is 5000x such astronomical growth is difficult for any asset in today's time actually .
 

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