Bitcoin Fortune Teller Rises To 1 Million US Dollars, Balaji Srinivasan: There Is No Profit Motive Behind This Bet

Balaji Srinivasan predicts the price of Bitcoin will reach one million US dollars. (Photo; Doc. The Portal)

JAKARTA - Balaji Srinivasan, a former Coinbase CTO known for his prediction that the price of Bitcoin will reach 1 million US dollars (around Rp. 15 billion), is still monitoring the stakes.

In a screenshot and address of the ransom account he shared, he ensured that the BTC price bet deal was still ongoing. However, Srinivasan insists that this bet is more like a public interest bet than a bet for personal gain.

However, James Medlock, in a tweet, said that Srinivasan did not send money to the crowd as agreed. Medlock also said that Srinivasan was discussing how to make this bet legal. However, Srinivasan's plan to reserve is to give $1 million directly to charity.

At the same time, Srinivasan denied the allegations by providing an explanation. He announced that he had transferred $2 million to the USDC stablecoin a few days ago and confirmed that there was no motive behind this bet. He only gave predictions based on market analysis and his confidence in blockchain technology.

Srinivasan also highlighted that trust in the US banking system has been broken, so many people turn to digital assets like Bitcoin. The Federal Reserve launched a program that makes all deposits fully liquid, so the market can see trillions more out. This is the reason why Srinivasan is optimistic that the price of Bitcoin will reach 1 million US dollars.

Despite concerns about security and regulation, Bitcoin and blockchain technology are increasingly popular around the world. Many large companies and financial institutions have been paying attention to this technology and are starting to adopt it in their business. In this case, Balaji Srinivasan's optimism for the future of Bitcoin can be seen as a positive sign for the development of blockchain technology and digital assets in the future.