The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Bitcoin Will Soon Shatter $1,000,000 Per BTC Amid Global Economic Crash, Says Former Coinbase Executive

by Daily Hodl Staff
March 19, 2023
in Bitcoin

Former Coinbase chief technology officer Balaji Srinivasan is detailing a seriously bold Bitcoin (BTC) price prediction.

In a series of tweets, Srinivasan says he’s willing to bet BTC explodes to a staggering $1 million in just 90 days from now.

The bet would be with professional poker player Isaac Haxton, with part of the proceeds going toward the charity GiveDirectly.

The investment guru tells his 780,400 Twitter followers that he thinks banks are in serious trouble after heavily investing in long-dated US treasuries, and Bitcoin’s rise will coincide with a major economic crash.

According to Srinivasan, the banks binged on government bonds two years ago when fiscal stimulus at the height of the Covid-19 pandemic drastically reduced the demand for typical loans. The investor also says that financial institutions made the decision to accumulate an enormous amount of government bonds under the impression that the Federal Reserve would keep interest rates low.

“They had good reason to believe this. Powell said he’d be ‘patient’ on rate hikes as late as Nov 3rd 2021. Then he got renominated on Nov 22nd 2021, and hiked rates much faster than anyone had expected  – which even Yellen and the FDIC [Federal Deposit Insurance Corporation] admit caused the current banking crisis… Hiking from ten years of near zero interest rates in the 2010s was a surprise attack on every dollar holder… So anyone who bet on long-term Treasuries got killed in 2021. And now, anyone who bets on short-term Treasuries is going to get killed in 2023.”

Srinivasan says that the threat of a banking sector meltdown puts Bitcoin in a position to rapidly ascend in value against the US dollar. The angel investor believes that BTC could meteorically rise to $1 million in just 90 days.

“This is the moment that the world redenominates on Bitcoin as digital gold, returning to a model much like before the 20th century. What’s going to happen is that individuals, then firms, then large funds will buy Bitcoin. Then sovereigns like El Salvador and tiny crypto-friendly countries.

The big move will be when a US state like Florida or Texas, or a ‘normal’ country like Estonia, Singapore, Saudi, Hungary, or UAE buys BItcoin. And when [Prime Minister Narendra Modi] tells India’s central bank to buy Bitcoin, even as a hedge, it’s over.” 

According to the angel investor, everything will happen “very fast” as we now live in a digital world.

At time of writing, Bitcoin is trading for $27,538.

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Submit a Press Release

Industry Announcements

  • Unizen and DWF Labs Strategic Partnership To Revolutionize Web 3.0 User Experience
    March 31, 2023
  • Core’s Revolutionary Satoshi Plus Consensus Marries Decentralization, Security and Scalability
    March 30, 2023
  • Lost Worlds Launches Version 2.0 of GeoNFTs in Web 3.0 Platform
    March 30, 2023
  • Script Network, SingularityNET and Stacks Bring Practical Solutions to Real-World Issues
    March 29, 2023
  • OKX To Open Office in Australia
    March 29, 2023
  • Metacade Raises Over $14.7 Million As Presale Sets To Close in 72 Hours
    March 29, 2023
  • Binance Expands AI-Powered NFT Generator Bicasso
    March 28, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$27,885.47
$27,885.47
1.34%
Ethereum
$1,774.26
$1,774.26
1.48%
Cardano
$0.372538
$0.372538
3.86%
XRP
$0.536301
$0.536301
2.74%
Dogecoin
$0.07421
$0.07421
2.09%

Spotlight

  • Play-To-Own – Paving the Way for the Next Generation of Games
    March 29, 2023
  • Crypto Whales and ‘Smart Money’ Now Accumulating One Ethereum-Based Altcoin: On-Chain Data
    March 30, 2023
  • Billionaire Mike Novogratz Predicts ‘Substantially Higher’ Bitcoin and Crypto Prices Amid Banking Woes – Here’s His Timeline
    March 30, 2023
  • $852,000,000 in Ethereum, Polygon, Fantom and Additional Altcoins Have Left Binance Following CFTC Lawsuit: Nansen
    March 30, 2023
NBX Warsaw Summit Banner
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl