Balaji is betting $1m that 1 BTC is > $1 million in less than 90 days
It's a $1m marketing stunt - everyone's talking about it, and he'll go on a huge media/podcast tour.
• Raises alarm for hyperinflation
• Makes $ back from price appreciation
• Eyeballs to his new podcast
It's a $1m marketing stunt - everyone's talking about it, and he'll go on a huge media/podcast tour.
• Raises alarm for hyperinflation
• Makes $ back from price appreciation
• Eyeballs to his new podcast
The media will love him.
He has the credibility of getting the COVID call right and is the former CTO of Coinbase.
No chance his prediction will come true. But my fucking god, we have someone insane enough to want to be this cycle's main character.
He has the credibility of getting the COVID call right and is the former CTO of Coinbase.
No chance his prediction will come true. But my fucking god, we have someone insane enough to want to be this cycle's main character.
https://twitter.com/balajis/status/1222921758375927808
I've seen some comments dismissing him as going crazy.
1 thing I've learned since the Pandemic is to be more open-minded.
The $1m bet is just the "hook" for us to think about what happens if the banks fail, and if hyperinflation happens.
1 thing I've learned since the Pandemic is to be more open-minded.
The $1m bet is just the "hook" for us to think about what happens if the banks fail, and if hyperinflation happens.
https://twitter.com/balajis/status/1636429773865095168
"But $1m is so much money."
None of us would be talking about this if it was any less.
Plus, it's a drop in the bucket compared to his estimated net worth. (I saw some figures at $1.5B)
None of us would be talking about this if it was any less.
Plus, it's a drop in the bucket compared to his estimated net worth. (I saw some figures at $1.5B)
"What about the damage to his reputation/credibility if he's wrong?"
It's not going to be as drastic compared to say Capo in CT.
People will still view Bajali as a smart mf'er regardless.
"I am directionally correct, but I miscalculated timeframes. Hyperinflation is coming"
It's not going to be as drastic compared to say Capo in CT.
People will still view Bajali as a smart mf'er regardless.
"I am directionally correct, but I miscalculated timeframes. Hyperinflation is coming"
In the 2017 cycle, McAfee bet BTC would hit $1m, or he'd eat his own dick.
It didn't happen. He didn't eat his own 🍆.
But he accomplished his goal - BTC price pumped and he got a ton of attention for the stunt.
It didn't happen. He didn't eat his own 🍆.
But he accomplished his goal - BTC price pumped and he got a ton of attention for the stunt.
One observation
Every cycle has a different BTC main character.
2017: McAfee
2020: Michael Saylor
2023: Balaji???
It HAS to be a different guy each time. This wouldn't get as much attention if Saylor made the bet.
#BitSignal does sound like the work of a talented PR firm.
Every cycle has a different BTC main character.
2017: McAfee
2020: Michael Saylor
2023: Balaji???
It HAS to be a different guy each time. This wouldn't get as much attention if Saylor made the bet.
#BitSignal does sound like the work of a talented PR firm.
By the way,
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Will be thinking about this topic some more.
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If you like tweets like this, you’ll love my weekly newsletter (it’s free).
Will be thinking about this topic some more.
Every Thursday, I share new strategies, narratives, and the latest news in DeFi.
Join 29,000+ subscribers here: TheDeFiEdge.com
The biggest risk isn't damage to his reputation if he's wrong.
There's a master plan for governments to start implementing CBDCs. Someone shouting for $1m BTC and the collapse of western civilization is a problem.
I'll let you fill in the blanks.
There's a master plan for governments to start implementing CBDCs. Someone shouting for $1m BTC and the collapse of western civilization is a problem.
I'll let you fill in the blanks.
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