Crypto news: We bring you a roundup of what’s been happening in crypto this week. And we lead with the most outrageous forecast we’ve seen in recent years. Balaji Srinsavan, the former tech chief at Coinbase, reckons Bitcoin (BTC) will be worth $1 million in 90 days.
Banking on a Collapse
He’s so confident that he bet social democrat James Medlock $2 million in USDC that the U.S. banking system would collapse, hence his forecast. While the prospect of a $1 million Bitcoin would be cause to cheer, BeInCrypto’s global news editor, Ali Martinez, sounded a cautionary note. “This simplified calculation doesn’t account for factors such as market liquidity, order book depth, depreciation in the US dollar value, and other market dynamics,” he said.
The valuation would see a Bitcoin market cap of $18.7 trillion. Which is $5 trillion more than gold. Which is probably unlikely in 90 days.
Crypto News – Socially Speaking
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Author: Geraint Price
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