Coinbase former CTO said Bitcoin would reach $1.0 Million by June 17th.
Custodia Bank founder refers to BTC as an insurance policy.
Bitcoin trades well above its 200-day Moving average.

Bitcoin will take hardly three months to shoot up to $1.0 million per coin, says Balaji Srinivasan – the former CTO of Coinbase Global Inc.

Why is he so bullish on Bitcoins?

Investor and entrepreneur, the entrepreneur shares his bullish outlook to the recent bank failures He warns that this will hyperinflate US dollars. A recent tweetHe stated:

“Central bank, the banks, and the bank regulators have bankrupted all of us. They concealed their insolvency from depositors. And they’re about to print $2.0 trillion to hyperinflate the dollar.

Srinivasan also launched a campaign he’s calling “BitSignal” that promises a $1,000 reward (each) to 1,000 best pieces of content that informs on the impending devaluation of the USD.

BTC trades well above its 200 day Moving Average.

Srinivasan is in a betting match with James Medlock

Srinivasan made the forecast on Twitter where he agreed to a bet with James Medlock (pseudonymous Twitter speaker) to whom he’ll have to pay $1.0 million if Bitcoin doesn’t hit his suggested valuation by June 17th.

1 BTC is the price of one bitcoin. I will send $1.0 Million. As 1 BTC is worth 26K, this is a 40:1 chance. The term is 90 Days.

The discussion started on March 17th when Medlock said he was willing to bet $1.0 million that fears of hyperinflation in the United States were merely overblown – a bet that Srinivasan accepted.

Caitlin Lang, Custodia Bank founder, also speaks on Monday dubbed Bitcoin as an insurance policy; a rare asset.