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The Practical Islamic Finance Podcast

Will Bitcoin reach $1 million in 90 days?

April 03, 2023 Rakaan Kayali
The Practical Islamic Finance Podcast
Will Bitcoin reach $1 million in 90 days?
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The Practical Islamic Finance Podcast
Will Bitcoin reach $1 million in 90 days?
Apr 03, 2023
Rakaan Kayali

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.


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Show Notes

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.