Will Bitcoin reach $1 million in 90 days?

03/04/2023 8 min
Will Bitcoin reach $1 million in 90 days?

Listen "Will Bitcoin reach $1 million in 90 days?"

Episode Synopsis

Balaji Srinivasan bets $1 million that Bitcoin will reach $1 million within 90 days, amidst economic turmoil. Here's why:Banks suffered massive losses due to bond value drops as interest rates rose, making them vulnerable to bank runs.The Fed introduced the Bank Term Funding Program (BTFP) to lend money to struggling banks, effectively printing more money.Bitcoin's fixed supply and independence from centralized manipulation make it an attractive store of value in times of economic uncertainty.The insolvency of banks and potential inflation from bailouts could drive people towards hard assets like Bitcoin, though the exact timeline and impact remain uncertain.