this also confused me. I donāt get this financially much, but since his side of the bet is broadly considered the more unlikely, couldnāt he have bid less and the other side would have had to take the bigger position? Not sure tho, because his big confidence of USD going to zero flips the odds in his view, right?
One view is that itās beer money for him, he can afford to throw around $1M to make a point and get some press.