Mixed Reactions Over Bets of BTC Hitting $1M and XRP Reaching $589
- Another set, the XRP army, argued that XRP could hit $589.
- Unlike BTC, the crypto community dismissed the possibility of XRP reaching $589.
There have been two astonishing price predictions recently in the crypto community about the potential values of top coins like Bitcoin (BTC) and the XRP. A group of Bitcoin maxis agreed to a bet that BTC would hit $1 million in 90 days, and another set, the XRP army, argued that XRP has a chance of hitting $589.
While both predictions appear incredible, David Gokhshtein, the founder of G3vrse, highlighted that the crypto community seems partial in its reaction to both projections. According to Gokhshtein, there was positive excitement when someone gambled that Bitcoin would hit $1 million within the next three months.
However, unlike the reaction to Bitcoin predictions, Gokhshtein noted that the crypto community dismissed the possibility of XRP ever reaching $589.
The conversation started last Friday when James Medlock, a social democrat, bet $1 million that the US would not go into hyperinflation. In a bold move, tech founder Balaji Srinivasan took the bet against one Bitcoin with odds of 40:1 and a 90-day time limit.
Srinivasan requested a custodian that both sides would agree to settle the bet if the dollar’s value went down. The tech founder also suggested that the stake could be done through a smart contract, allowing USDC stablecoin to be used instead of US dollars.
While Srinivasan took the bet, he argued that US banks and regulators have been lying to depositors and dollar holders about the insolvency of banks, much like in the 2008 financial crisis.