2min chapter

All-In with Chamath, Jason, Sacks & Friedberg cover image

E121: Macro update, Fed hike, CRE debt bubble, Balaji's Bitcoin bet, TikTok's endgame & more

All-In with Chamath, Jason, Sacks & Friedberg

CHAPTER

Bitcoin Hits $1 Million in 90 Days

A friend of the pod predicted that Bitcoin will reach $1 million in 90 days due to US hyper inflation. Hyper inflation is defined as prices going up 50% month over month, just so we're clear on exactly how dramatic that is. He made the bat on March 17 against a pseudo anonymous Twitter user who said they would bet 1 million that the US would not experience hyper inflation. It wasn't a Bitcoin bet that and I think he's done two of these bets. So he's betting 2 million in total on Bitcoin hitting 1 million by June 17, which there's probably no chance of that happening.

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