Bitcoin
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American entrepreneur and former CTO of crypto exchange Coinbase Balaji Srinivasan confirmed on Twitter (social network banned in Russia) that transferred $2 million to USDC as part of a dispute with political commentator James Medlock.
They made a bet that by June 17, 2023, the price of bitcoin will exceed or not exceed the price mark of $ 1 million.
Medlock is of the opinion that the US will be able to avoid hyperinflation, therefore, there is no need to talk about a significant increase in the BTC rate. Srinivasan is sure of the opposite, however, in case of a loss, he will transfer 1 million USD Coin (USDC) stablecoins to Medlock, otherwise his prize will be 1 BTC.
On March 25, Medlock posted a tweet in which he wrote that Balaji had not yet sent him a stake of $ 1 million in escrow. In response, Balaji stated that he had fulfilled his obligations.
I have absolutely zero motivation to make a profit… I will never sell bitcoin for dollars unless I am forced to do so for legal reasons.
I will hold bitcoin until the US dollar ceases to be the reserve currency of the world, again, unless the law compels me to do otherwise.
According to Balaji’s proposal, their dispute should have “a custodian chosen by both parties who will settle payments in the event of a devaluation of the digital dollar.” As soon as the X hour arrives, 1 BTC of Medlock and $1 million of Balaji will be given to a third party for escrow, after which the reward will be transferred to the winner.
As we can see, Balaji Srinivasan has already made a contribution under the deal.
#contribution #million #bitcoin #dispute
