- Bitcoin reclaimed the $28,000 mark for the first time since July 2022.
- Angel investor Balaji Srinivasan expects BTC to hit $1M in 90 days.
- David Gokhshtein to delete socials If Bitcoin fulfills $1M dream.
Crypto entrepreneur David Gokhshtein posted an ultimatum to delete his Twitter account if Balaji Srinivasan’s prediction that the leading crypto asset Bitcoin (BTC) will achieve the $1 million mark in the next 90 days comes true. The Wall Street Journal best-selling author and founder of multiple Web3 startups insists that “hyper-inflation is happening now.”
Hyperinflation to Catapult Bitcoin to $1 Million?
The recent downfall of the Silicon Valley Bank echoed over crypto bullishly last week, as Bitcoin spiked by 30% in the last seven days. The top crypto asset currently trades at $28,064.09 and gained 2.5% in the last 24 hours, according to CoinGecko.
As public trust in legacy banks is fading, people turn to cryptocurrencies which provide an alternative to the traditional financial system. Even so, can Bitcoin really achieve the $1 million mark? Naturally, crypto enthusiasts on Twitter are skeptical about the estimate, but David Gokhshtein assured that he’s “actually praying this sh** happens.”
Bitcoin Blows the Scepticism Bubble
As the largest decentralized crypto asset continues to attract new investors, many crypto aficionados are pointing out that the recent whirlwind of financial troubles for Credit Suisse, Silicon Valley Bank, and First Republic Bank comes after Bitcoin was deemed too energy inefficient or simply not suitable for everyday transactions by the same financial institutions.
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In addition to becoming a reliable store of value to the public, Bitcoin came to prove itself as an inflation-resistant currency. However, this year’s realistic chances of Bitcoin hitting the $1 mark are slim, as the nearest halving event will occur in early 2024. According to many crypto traders, a large chunk of BTC removed from circulation could spark one of the greatest bull runs for the leading digital currency.
On The Flipside
- It’s not the first bold statement from Mr. Gokhshtein, as the memecurrency-focused crypto entrepreneur previously said that “Bitcoin is likely going to $0,” causing a fiery reaction on Crypto Twitter.
Why You Should Care
Opinions from prominent figures in the crypto sphere often reflect the current market conditions and overall bullish vs. bearish sentiment.
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