• Balaji Srinivasan, ex-CTO of Coinbase, has reiterated his confidence in his famous million dollar projection for Bitcoin.
• The two investors agreed that the USD’s downfall could lead to Bitcoin emerging as a global reserve currency.
• They discussed how Keynesian economists had not predicted the existence of digital gold and its potential for financial freedom and taxation.

Balaji Srinivasan’s Million Dollar Bitcoin Prediction

Former Coinbase CTO Balaji Srinivasan has expressed his continued confidence in his million dollar projection for Bitcoin (BTC). During an interview with Cathie Wood, visionary investor behind Ark Invest, the two discussed the relationship between economy and BTC and the possibility of it becoming a global reserve currency.

USD vs BTC

The two investors agreed that if USD loses its status as the global reserve currency, BTC would be the best alternative. Balaji believes that BTC will reach a million dollar valuation within 90 days while Cathie Wood shared his confidence but noted a 10-year timeframe instead. The downfall of USD would give way to crypto being used as a tool for financial freedom and taxation income.

Keynesians Dismissal of Crypto

Balaji suggested that Keynesian economists had not taken into account the possibility of digital gold existing when they dismissed it initially. Growing fears around deflation and country party risk may be what sparks Bitcoin’s next bull run according to Wood.

USD Losing Status?

In the event of USD losing its status as reserve currency, Balaji believes that BTC would be better than China Yuan due to both technical reasons and censorship resistance from governments or central banks. He also noted states in USA should support crypto in order to gain economic benefits from it such as taxation income or financial freedom tools.

Conclusion

Overall, Balaji Srinivasan remains confident in his million dollar prediction for Bitcoin while Cathie Wood suggests a more conservative 10 year timeframe instead; however they agree on one thing: if USD loses its status as reserve currency, then Bitcoin is likely to emerge as a viable alternative due to its features like censorship resistance and ability to provide financial freedom tools or taxation income options for countries using it.

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