Former Coinbase CTO makes an on-chain bet with someone that Bitcoin will reach $1 million before June 17

ChainCatcher news, former Coinbase CTO Balaji Srinivasan has made a bet with anonymous Twitter user James Medlock regarding the price prediction of Bitcoin. According to the proposed terms, if the price of Bitcoin does not reach $1 million by June 17, Medlock will win $1 million worth of USDC. Conversely, if Bitcoin is valued at least $1 million by that date, Balaji can receive 1 BTC.

Other Twitter users helped establish a smart contract with the betting terms. Srinivasan also revealed that he will put up another $1 million USDC for another bet on the same topic: "I will bet $2 million on USDC, I will do it with Medlock and another person, and others should go buy Bitcoin." (source link)