Why this man bet $1M that Bitcoin will be worth $1M in 3 months
Balaji is an ideological activist.
He believes the US will enter hyperinflation within 3 months.
He also believes that Bitcoin will reach $1 million in 3 months too.
He bet $1M on this.
For reference, this is what hyperinflation looks like:
- The price of everything ×10,000
- Your salary ×1000
- So everything 10x more expensive
- All your savings gone
- People carry cash in wheelbarrows
On the plus side, your mortgage and car are immediately paid off.
Crazy bet for a crazy prediction. But he was absolutely spot on about Covid months ahead of everyone else. Look at the date on this Tweet:
Could he be right again?
I don’t think he’s right. Or maybe I can’t fathom a world where he is. But he does bring up important points.
- Banking is fucked
- The government caused it.
- The government saving the banks will lead to even more inflation
- They basically just undid all the work of the high-interest rates for the past years
I mean, you don’t need a degree in finance to see that the charts are all fucked: