Balaji Srinivasan keeps fighting inflation and losing
Ultra-wealthy former Coinbase exec Balaji Srinivasan keeps single-handedly betting on inflation winning — and in doing so, makes losing look easy. While the Federal Reserve, Treasury, and Congress do everything in their power to fight inflation , Srinivasan made one of the worst public-facing financial bets in history. He proposed in April that inflation would be so bad that Bitcoin would surpass a value of $1,000,000 a coin within three months. Srinivasan gave up prematurely and paid up 47 days later — 44 days before he had to. Of course, he still claimed a moral victory. The former Coinbase exec released a video stating, “I burned a million to tell you they’re printing trillions.” Now, a platform that offers “a new inflation truth-set to provide reliable financial data for better decision-making” is reporting lower inflation than the official numbers coming from the US Bureau of Labor Statistics. Balaji Srinivasan wanted “real inflation numbers” but not like this ...