The Defiant

The Million Dollar Bet on Bitcoin

1BTC = $1M?

By: Jack Dunham

If you’re into crypto and you spend too much time on Twitter, you’ve likely heard of the million-dollar bet between Silicon Valley thought-leader Balaji Srinivasan and James Medlock, a pseudonymous, left-wing twitter user recently described as “FDR, but not racist and without polio.” Balaji has bet that Bitcoin will hit a million dollars within 90 days, even dumbfounding the most ardent Bitcoin maxis. But why?