Major Points:

• In order to place a wager, prominent cryptocurrency figure Balaji Srinivasan has disclosed that he is transferring $2 million into the stablecoin USDC.
• According to his forecast, there will soon be a return to a pre-20th century economic model known as “hyperbitcoinization,” in which Bitcoin will once again be treated as a form of gold.

A well-known cryptocurrency figure named Balaji recently declared that he is investing $2 million in the stablecoin USDC for a wager. If Bitcoin is worth more than $1 million in 90 days when Medlock and another person join him, he wins. If it is worth less, the counterparty receives $1 million in USD.

As the world redenominates on Bitcoin as digital gold, Srinivasan predicts that we will soon experience hyperbitcoinization and go back to a system more akin to that of the early 20th century. He anticipates that BTC will be purchased by individuals, businesses, significant funds, and even sovereign states, with the US government or a “normal” nation like Estonia, Singapore, Saudi Arabia, Hungary, or the UAE making the biggest purchase. He claims that once Indian Prime Minister Narendra Modi instructs the country’s central bank to purchase bitcoin, the situation is over.

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According to Srinivasan, because of the digital nature of our world, there will be hyperinflation in BTC vs. USD terms. He thinks that once people realize that the Federal Reserve has been lying about how much money is in the banks, everything will happen very quickly. The long-term depreciation of USD vs. BTC is a source of forewarning, he claims, despite his warning that all holders of dollars will be destroyed.

Srinivasan maintains that the dollar’s digital devaluation is imminent and severe, despite the fact that some people may ignore or make fun of his prediction. He encourages everyone to purchase Bitcoin, saying that it will be much less expensive than being imprisoned for 90 days.

In conclusion, Srinivasan recently revealed his $2 million wager and predicted a hyperbitcoinization, which emphasizes his conviction that Bitcoin will replace digital gold. He urges people to buy Bitcoin in the face of an impending dollar devaluation in the digital realm.