Bitcoin (BTC) at $1,000,000 in 90 Days

Golden ChipMunk

Golden ChipMunk

Well-Known Member
Two bets $1,000,000 being place by Balaji Srinivasan.
; and if you're reading it for Repost the article.

Please pay at my account
BTC account bc1qrlukupq8sqy8pnvykp87styqp8awdf7mx5c4gk


"Yesterday, on March 17, 2023, Balaji Srinivasan announced that he is placing a gargantuan $2,000,000 bet on Bitcoin (BTC). He is sure that Bitcoin (BTC) will be worth over $1,000,000 in 90 days. Otherwise he will pay $1 million to his opponent."




Read more on U.Today https://u.today/bitcoin-btc-at-1000000-in-90-days-insane-bet-by-balaji-srinivasan#h20

https://twitter.com/i/web/status/1636797265317867520

 
I agree with Leo. For BTC to go to $1 million per coin, that means a 37x move. So BTC moves from a market cap of $500 billion to 18.5 trillion. Is this priced in USD or USDC? You could have a depegging scenario where USDC's banks all fail and the token is worth the same as UST from LUNA lol
 
What can move the Speculative Crypto Price in The Future?

Cryptocurrency Futures

Understanding Cryptocurrency Futures
Futures contracts of any underlying asset are derivatives of that asset. These contracts are bought and sold between two commodities investors, and they speculate about that asset's price at a specific date in the future.

The contracts have a specific number of units, pricing, marginal requirements, and settlement methods that investors must meet.

How Crypto Futures Work on Regulated Exchanges
Consider the following example for a CME Group Bitcoin futures contract. Suppose an investor purchases two Bitcoin futures contracts totaling 10 bitcoin. The price of a single bitcoin when the futures contract was purchased was $5,000 each, totaling $50,000 for both futures contracts. The margin requirement for Bitcoin futures trading at CME is 50% of the contract amount, meaning that the investor has to deposit $25,000 as margin. They can finance the rest of the contract purchase by using leverage.

source refererence:

https://www.investopedia.com/articl...lect cryptocurrencies without purchasing them.


The tools that will make the specific crypto's to move. I guess it possible giving enough leverage.






 
Opened 2 new btc longs @ 28.3k before bed time last night to add to two others from last week.

Diamond handing this for deep fucking value.

upload_2023-4-11_8-30-10.png pnl.png
 
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Couldn't wait for confirmation above 30k for a week or so? Power to you. It looks like the bears (including me) could get crushed soon! I mean, it always looks that way till it doesn't.
Given I haven't done enough altcoin research to take punts right now I think there is real money to be made in mining stocks this year if gold does its thing. BTC to a million is 30-35 bags from here. Some good miner picks would yield similarly.
 
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