/biz/ - Business & Finance

Classic confidence trick. A guy says "I have so much faith X will happen, I will stake money on it!" Other people take him seriously, and therefore take X seriously (in this case, a mega BTC pump). This encourages a self-fulfilling prophecy of bank withdrawals and BTC growth, but definitely doesn't guarantee $1M BTC.

However, what do you think Srinivasan's total BTC holdings are? Even if he loses the bet, if he can increase his net worth by more than $1M from making this bet in the first place, it's worth it to him.
>Balaji Srinivasan is a successful entrepreneur and investor with a net worth of over $1.5 billion.
$1.5 BILLION. How much of that is in BTC, do you think? ANY price move to the upside thanks to his tweet will make him money, whether he wins the bet or not. It would be like Elon saying he bets BTC will hit $50k by June. Same trick. Don't be bamboozled.