Bitcoin OG bets surprising sum on BTC hitting $100K before the halving

Blockstream CEO Adam Again, one of many crypto’s early pioneers, is fairly assured Bitcoin will hit an all-time excessive of over $100,000 earlier than Bitcoin’s halving in 2024 — and is keen to drop one million wagering on it.

In an Aug. 7 dialog on X (previously referred to as Twitter), Again agreed to a wager with pseudonymous X consumer @Vikingobbitcoin that Bitcoin would attain $100,000 by March 31, 2024. Vinkingo mentioned they consider it gained’t occur till 2025.

The wagered date is available in roughly a month earlier than the halving — which is presently on observe for April 26 — as Again believes that the worth will “in all probability” attain a brand new all-time excessive before the precise date of the halving.

Bets on dramatic will increase within the value of Bitcoin have attracted large sums up to now, reminiscent of Balaji Srinivasan’s $1 million 90-day Bitcoin wager in March.

Beck’s additionally been bullish about Bitcoin up to now, saying in February that Bitcoin might attain $10 million by the sixth halving in 2032.

This time, Again is definitely setting down hard-earned funds to again his most up-to-date declare. Sadly, it’s one million satoshis, not U.S. {dollars}. That’s solely $290 in present costs (or over $1,000 if Again’s prediction comes true).

A satoshi — “sat” for brief — is the smallest divisible unit of Bitcoin, and there are 100 million sats to a single BTC. 

Thus, it’s a fairly small wager for Again, given his web price is estimated to be someplace between $50 and $300 million.

Nonetheless, in a response to Again’s unique submit, Jan3 CEO and fellow Bitcoiner Samson Mow mentioned that he too expects a brand new all-time excessive for Bitcoin “pre halving, not submit.”

I additionally suppose new ATH pre-halving, not submit.

— Samson Mow (@Excellion) August 5, 2023

Regardless of the small wager, it has attracted some snide replies within the responses — however nonetheless displays a rising bullish development on the worth of Bitcoin amongst market commentators and analysts forward of subsequent yr’s halving.

In the meantime, in a Feb. 24 interview with Cointelegraph, Charles Edwards, the founding father of Capriole Investments, mentioned that the upcoming halving will see Bitcoin grow to be the “hardest asset on this planet” and predicted that the market is already within the early levels of a brand new bull cycle.