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0 sats \ 0 replies \ @grayruby 18 Mar 2023 \ on: Balaji betting $1 million that 1 BTC is > $1 million in 90 days bitcoin
For this to occur, it probably requires 1.5T of capital flowing into Bitcoin in a short period of time with no long term holders willing to sell and almost everyone taking self custody so exchanges can't sell paper bitcoin. This is just an estimate assuming a ridiculous fomo event that pushed up the marketcap to realized price to around a 10x.
Probably requires a nation state printing money to buy bitcoin. I think a lot of coins would come to market once we hit 6 figures. There would have to be a real systemic shift and a broad narrative change around Bitcoin amongst the majority of people for that to occur. Things happen fast but this would not just be a black swan event, this would be the asteroid hitting earth event.
What are the chances that Balaji is trying to pump Bitcoin as much as possible and stupid Eth by proxy so he and his VC buddies can maximize their gains when they unstake and sell next month?
Cheers,
GR