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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.