Mediaboss Marketing

Published: May 3, 2023 at 8:44 a.m. ET

Some bets dont pan out. This one didnt come close.

Balaji Srinivasan took to Twitter to say hes made $1 million in donations and paid $500,000 to a Twitter user, after saying back in March that bitcoin would reach $1 million in three months. Bitcoin BTCUSD came up a bit short on Wednesday, it was trading above $28,000. He didnt bother waiting the extra month or so to see if bitcoin could climb some $970,000.

Srinivasan...

Some bets dont pan out. This one didnt come close.

Balaji Srinivasan took to Twitter to say hes made $1 million in donations and paid $500,000 to a Twitter user, after saying back in March that bitcoin would reach $1 million in three months. Bitcoin BTCUSD came up a bit short on Wednesday, it was trading above $28,000. He didnt bother waiting the extra month or so to see if bitcoin could climb some $970,000.

Srinivasan is the former chief technology officer at the crypto exchange Coinbase, as well as the co-founder of Counsyl, a health technology firm.

When youre trading, yes too early is the same as being wrong. But if youre preparing, then hell is truth seen too late, he said.

He recounted trouble in the economy ranging from collapsing banks such as SVB Financial and First Republic Bank to the surge in U.S. government debt to the possible breach of the U.S. debt ceiling.

He also pointed to a range of difficulties, from insurers holding too much in bonds, to the collapse of life expectancy, to rising auto and student debt.

See the original post here:

This bitcoin advocate says he's settled bet after cryptocurrency didn't reach $1 million in 90 days - MarketWatch