BALAJI SRINIVASAN ONE MILLION DOLLAR PREDICTION

A guy named Balaji is making a bet that Bitcoin is going to hit a million dollars in 90 days but I don't think that is going to happen in 90 days. I completely believe that BTC is going to hit a million dollars but not in 90 days. This million-dollar BTC bet is interesting to talk about because it comes from a place of deep distrust in the banking system. We should not forget what Satoshi put into the Genesis blocks, he was also a massive bank Skeptic. The banks have truly screwed up, this time they are taking the whole economy with them, and this Balaji dude that hyperinflation is coming for the dollar. As Balaji points out, hyperinflation often happens quite quickly. The shortest-ever doubling of inflation was in Hungary in the 40s when the price doubled in 15 hours. More often we are looking around 20 to 30 days for runway stuff.

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Although most cases of inflation over years, even the worst cases play out over years, many over decades. This banking crisis is a serious matter, the truth is that the regulators were not surprised by the banking crisis. They have known this at least late last year that these banks are insolvent. I don't think the US dollar is going to collapse in such dramatic overnight fashion but I think there will be a slow bleed over the next few decades. If Bitcoin were to hit one million dollars in 90 days I do not believe that it will, that will mean ultra chaos. This will mean that there is been a complete collapse of the International Financial System, the equity markets have collapsed interest rates would explode beyond imaginable.

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Potentially, we will see a block on selling your fiat currency for Bitcoin. We do not want to see the global reserve currency going to complete a meltdown overnight. It will be bad for everyone. According to the FED's own model that a recession is coming soon as the indicator shows it is at the highest levels in more than 30 years. The money printer has started once again with the bank's term funding program. We get this headline from the European Central Bank they are going to be working with top Global central banks, that is Federal Reserve, the Bank of Japan, the Central Bank of Canada, and so on for the US dollar liquidity program. As soon as this announcement came out, Bitcoin broke $28,000.

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