Balaji Closes Bitcoin Bet With $1.5M in Donations, Including $500K for Bitcoin Core Development

The former chief technology officer at crypto exchange Coinbase and a former partner at venture capital firm Andreessen Horowitz, Srinivasan in mid-March – shortly after the failures in short order of Silvergate Bank, Signature Bank, and Silicon Valley Bank – said he expected a banking crisis to trigger a sizable devaluation of the U.S. dollar, hyperinflation, and a surge in bitcoin to $1 million by mid-June. He put up $1 million to back his prediction.

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