Crypto twitter betting on hyperinflation, the BTC catapulted to $ 1 million in 3 months

Crypto twitter betting on hyperinflation, the BTC catapulted to $ 1 million in 3 months

Balaji Srinivasan, a risk capitalist and former CTO of Coinbase, claimed that the US economy would enter a hyperinflation phase in 90 days and catapult BTC to $ 1 million.

Balaji, whose crypto venture EARN.com 2019 was taken over by Coinbase, also offered to pay $ 1 million in BTC to the best $ 1,000 tweets that warn of a stealth financial crisis.

Balaji bets BTC to $ 1 million

yes. Only move money for the bet. We can do this via Smart Contracts, but for the sake of simplicity, old -fashioned trust account can work.

The trust person would need a BTC address and an ETH address (for the USDC). The assets would stay on the chain for 90 days.

if BTC <1 million $ in 90 days after ... https://t.co/tp82ecuf9j

- Balaji (@balajis) 18. March 2023

"... I put the bit signal on. $ 1 million in BTC to warn us about the hidden financial crisis. 1,000 dollars per tweet, for the best 1000 ... You have your insolvency before you, the insoles. And you are in the process of printing $ 2 trillion to do the dollar Hyperinflation ... So buy Bitcoin * now * and get your coins from the stock exchanges ", Balaji tweeted on March 16.

The next day he went to hammer and pliers. "After the 2008 crisis, the banks are insolvent to distrust the bankers. At that time they used a complex language to hide the simple fact that the mortgages were bad. And today they do it to hide the money. Not in a bank, in all banks. And they knew it months ago ... target = "_ blank" href = "https://twitter.com/balajis/status/163644326019618240" Data-Wpel-Link = "External"> called .

in the final Salve Signature and silver gate were forced to close because they stored crypto.

While Balajis tweets produced huge reactions, including people like the Binance CEO Changpeng Zhao, who seemed a lot to be amused The famous cryptocurrency critic Molly White finally pointed out the self-interest of the risk capital providers, the traditional banking and finance.

"It is not that we can put the ghost back into the bottle!"-VC, which will benefit massively from the release of the mind and who has worked tirelessly to released this spirit, "she said tweeted in response to Balajis tweet and followed with: "I am also pretty good at put in cats in sacks, as it wants."

Buy the Pivot: Arthur Hayes

Arthur Hayes, co-founder of the Bitmex crypto exchange, asked investors to buy Bitcoin, and previously said that US banks have an unrealized loss of $ 620 billion. And the US government is planning a rescue operation of $ 4.4 trillion for the banking industry.

The huge rescue package will give the entire financial sector a boost, including cryptocurrencies, especially Bitcoin and other leading coins. While Covid-19, when the US government pumped $ 4.19 trillion into business, Bitcoin rose to $ 69,000, he argued.

Banking crisis in focus

The regulatory heat that has been added to the cryptocurrency company in the past few weeks has given way to a much bigger problem-the banking crisis from 2023. In about a week, three US mainstream banks hired the business and left a huge trace of institutional and individual inserts without money access to the funds Bank accounts. This also triggered massive bankruptcy in which hundreds of regional banks were involved.

The liquidity crisis of the banks is said to have been caused by the fact that government bonds became cheaper after the Fed reserve had increased the interest rate in the past few months to tame inflation that had reached a 40-year high at one time.

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