Maybe Balaji is just trying to pump BTC enough to make himself an extra M on a trade so he can take the bet for publicity and end up net even. How many of you bought Bitcoin in the last 24 hours after not doing so for many months? š Iām sure the $1m is somewhat insignificant, but regardless it feels like a stunt
I had a quick thought along these lines but I donāt think so anymore. I think Balaji is sincere but wrong on this one. @timdaub summarized it nicely here: https://warpcast.com/timdaub/0x22e259
Unfortunately I think Taleb was right. Heās either lying and spreading misinformation about how the banking system works, or heās an idiot and doesnāt realize he doesnāt understand what heās talking about.
I can't buy this. If he does rug then the long term prospects of btc will take a hit and I think his exit will have too much slippage given the size of his bags. I'm also perplexed. Best bet is that he's hoping there will be some sort of phase change into btc.
Itās a total pr stunt Iām just not sure for what exactly
Clearly a PR stunt and to get more following, but flip side of him losing the bet is that tradfi will gloat over the fact that US banking system is strong and gov sensible to keep hyperinflation in check. And that BTC is just a fad.