Former Coinbase CTO, Balaji Srinivasan, bets $1M on Bitcoin hitting $1M by June 2023, a wager initiated by James Medlock.
If BTC's price fails to reach $1M, Medlock wins $1M worth of USD Coin (USDC). Srinivasan argues there's an impending crisis that will lead to deflation of the US dollar, hence the hyperinflation scenario.
Meanwhile, Bitcoin's price has reached $63K with a market capitalization of $1.18T, outperforming Wall Street banks amid fears of a global banking crisis.
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