Analysts Explain: Balaji Srinivasan Predicted Bitcoin to Rise to $1 Million in 2023 for Selfish Purposes

BitMEX researchers recalled the resonant bet of investor Balaji Srinivasan in March 2023. Then on the social network X, he made a bet for $1 million , predicting the growth of Bitcoin to $1 million within 90 days. At that time, the bet caused heated discussions in the community and was perceived as highly unlikely.

A new commentary appeared today, and researchers offered a logical explanation for this challenge from a well-known American entrepreneur. According to the researchers, the whole story could have been a carefully calculated move. The bet was probably needed to covertly support the company Citrea, which was engaged in the infrastructure for Bitcoin.

Eighteen months later, in October 2024, Balaji did indeed become an investor in Citrea. This likely links his big announcement to a strategic push by his future partner. It’s this turn of events that gives the long-running dispute new context, experts say.

Initially, the deal looked like a personal challenge to the US economic system and at the same time a PR campaign to promote the ideas of decentralization and protection from inflation. However, today there is a version that it was not only a symbolic step, but also a real business strategy.

A quote from Balaji from that time has once again come into focus : he even agreed to put up $1 million in USDC against buying 1 BTC on the condition of holding the assets for the next 90 days. At the time, such wording seemed extremely aggressive against the backdrop of Bitcoin’s price at $26,000.

Now, community members are discussing whether the high-profile bet could have been part of a long-term plan to develop an ecosystem around Bitcoin and companies like Citrea. This scenario explains why the story has once again attracted the attention of analysts and received a new rethink in 2025. At the same time, the Bitcoin rate, as we know, has never risen above $124,000 in history.

Source: cryptonews.net