Former Coinbase CTO, Balaji Srinivasan, Makes Bold Bitcoin Prediction, Grabs Headlines Again.
Crypto Market Update: Balaji Srinivasan, a well-known investor and former CTO of Coinbase, is making headlines once again with his bold Bitcoin prediction. Previously, he gained attention by betting that the price of Bitcoin would reach $1 million within 90 days. However, he ended up closing the bet early in May 2023, admitting defeat and paying $1.5 million. Meanwhile, the crypto market is experiencing a price correction as uncertainty looms over the US Fed’s interest rate hikes.
In recent news, US President Joe Biden announced that he will not support a debt agreement that offers protection for cryptocurrency traders. Additionally, US regulators, including the Securities and Exchange Commission (SEC), are actively targeting crypto businesses despite the ongoing lack of clarity surrounding crypto trading. As a result, it is expected that the discussion around crypto regulation and the emergence of Web 3.0 technology will become a heated topic among US lawmakers in the upcoming 2024 Presidential Election.
Balaji Predicts Bitcoin Led US Presidential Election
During the G7 Summit, President Biden stated that he would not support a deal that safeguards wealthy tax evaders and cryptocurrency traders at the expense of those relying on food assistance. This statement triggered a discussion about cryptocurrencies becoming a significant issue during the US election year. Balaji tweeted about it.
If 2016 was known as the “Twitter election,” then 2024 might be recognized as the “Bitcoin election.”
The ex-CTO of Coinbase also expressed concerns about the potential impact of “deep fakes” on the election. However, he was unsure if there would be a discussion about the revolution of artificial intelligence in the technology sector.
Important: This article is intended solely for informational purposes. It should not be considered or relied upon as legal, tax, investment, financial, or any other form of advice.
