Bitcoin News: Bitcoin (BTC), the world’s largest cryptocurrency is riding on massive bullish sentiments amid the ongoing crisis in the global banking sector. Investors are in rejoice as Bitcoin price marked a whopping surge of 35% over the past 7 days. As the Bitcoin price rally continues, the Former Coinbase CTO is expecting Bitcoin Price to reach $1 million in the next 90 days.
Ex-Coinbase CTO Bets Bitcoin To Reach $1 Mln
Balaji S. Srinivasan, former CTO of Coinbase crypto exchange is betting with Isaac Haxton, an American professional poker player over Bitcoin price to breach the enormous $1 million figure.
Haxton in a tweet stated that he can send one Bitcoin to escrow on the behalf of James Medlock if he is donating 70% to GiveDirectly. However, the Poker player added that he’ll take all of the downsides if Medlock loses and none of the upsides if he wins.
To this Ex Coinbase CTO reacted that they can do it via smart contract, however, escrow will also work. He mentioned that the rules that the escrow person would need one BTC address and one ETH address, while the assets would stay on-chain for 90 days.
Balaji mentioned that if Bitcoin stays less than 1 million in 90 days after the bet, then Haxton will win and get to keep one BTC and $1 million in USDC. However, if Bitcoin price breaches $1 million in 90 days then Ex Coinbase CTO will get both Bitcoin and $1 million USDC.