Former Coinbase CTO Balaji Srinivasan has closed out his bet that bitcoin would surge to $1 million due to hyperinflation in the U.S.
tweeted
on Tuesday."Took some time to work out the details but he proceeded in good faith and you can see the receipt of funds on chain in the next tweet. $500k to me and 500k to GiveDirectly."The bizarre chain of events was set in motion when Medlock posted a tweet on March 16 saying,"I’ll bet anyone $1 million dollars that the US does not enter hyperinflation."
Srinivasan, who has more than 900,000 followers on Twitter, responded with, “I will take that bet.” He asked Medlock to buy one bitcoin and promised to send him $1 million after 90 days if the cryptocurrency's price hadn't climbed to $1 million. “This is one of those tweets that just popped into my head and I sent it in 10 seconds without thinking about it. Wild to think how different my life would be if I had never clicked ‘tweet,’” Medlock tweeted on Tuesday.from some, with Bloomberg journalist Joe Weisenthal tweeting that it had helped"raise awareness about the soundness of fiat currency."© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only.
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