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Crypto Market News: Balaji Srinivasan, popular investor and the former Chief Technology Officer of Coinbase, is again in the news for his aggressive Bitcoin prediction. Earlier, the investor became a sensation with his bet over Bitcoin price reaching $1 million within 90 days. He made the prediction in March 2023, only to end up prematurely closing out the bet by paying $1.5 million in the first week of May 2023, accepting his loss. Meanwhile, the crypto market has been witnessing a price correction phase as the US Fed’s rate hike uncertainty remains.
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In a latest US President Joe Biden on Sunday said he will not agree to a debt deal that would protect crypto traders. On the other side, the US regulators, especially the U.S. Securities and Exchange Commission (SEC), continue the attack on crypto businesses, even as the lack of clarity around crypto trade remains. Hence, it makes sense that in the lead up to the US Presidential Election 2024, the debate around crypto regulation and the Web 3.0 space heats up among the US lawmakers.
Balaji Predicts Bitcoin Led US Presidential Election
Speaking at the G7 Summit on Sunday, Biden said he was not going to agree to a (debt) deal that protects wealthy tax cheats and crypto traders while putting food assistants at risk. This sparked a debate around crypto becoming a point of contention in the US election year. Balaji tweeted,
If 2016 was the first Twitter election, 2024 may be the first Bitcoin election.
The former Coinbase CTO also said the election could also be threatened by ‘deep fakes’ but he was not sure of a debate around the artificial intelligence revolution in the technology space.
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