Imminent 3,300% Bitcoin Blast Possible Amid BTC Parachute Rush, Says Balaji Srinivasan

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Former Coinbase CTO Balaji Srinivasan doubles down on his prediction that Bitcoin (BTC) will explode over 3,300% from current levels in less than 90 days.

Srinivasan said in an interview with ARK Invest that problems in the US banking system will drive people away from Bitcoin.

According to the angel investor, his very bold prediction that BTC will hit $1 million in less than three months is likely due to the speed of digital banking.

I think we see an exit from the US banking system towards Bitcoin over the next few weeks and months and maybe years to come.

The exact deadline of 90 days? You know, I don’t think it’s impossible for that to happen given how quickly digital banks work, but directionally it’s a lot easier. The timing is difficult, the preparation is easy.

Srinivasan says the Federal Reserve has caused instability that could cause many people to seek refuge in Bitcoin.

Bitcoin is actually free markets. And now we have the real election, which is between USD [US dollar] and BTC where people are again voting against central planning of a very different kind. And that’s actually the macro framework that I have on this that the level of instability that the Fed has caused they’re now in the state of a plane [experiencing turbulence].

Can I predict every crazy twist they’ll make? I can’t. And ultimately, predicting a lot of macroeconomics is on this.

May I know that there will be passengers who press the eject button and since this pilot does not know what they are doing, climbed into the parachute, bitcoin parachute, exited the plane? Yes, I think there will be more.

Bitcoin is trading at $27,897 at the time of writing.

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