Balaji Burned $1 Million in Bitcoin to tell you they are Printing Trillions.
Balaji just burned $1 Million in Bitcoin to tell you they are printing trillions.
Why did he do this & why should you care?
Balaji is bullish on the power of decentralization and innovation.
On 17th March 2023, he made a bet on Bitcoin reaching $1 million within 90 days.
Losing the bet Balaji paid $1.5M via on-chain donations to charities.
Balaji wanted to share proof of signal to the world that there is something wrong with the economy.
He adds we are facing a global fiat crisis, where the Fed & other central banks will print trillions to bail out failing sectors to inflate away their debts.
Balaji feels it's not a normal recession.
It is a poly-crisis.
A combination of banking, debt, bond, real estate, energy, trade, and geopolitical crises will cause a massive economic contraction and social unrest.
He says the Fed is lying to us about the severity of the situation and the inflation rate.
Balaji says they are creating an illusion of tight monetary policy while secretly printing trillions to prop up the system.
According to him, the US financial system and the dollar will lose global trust.
The Fed will attempt a digital lockdown with a CBDC alternative.
People will reject it and choose assets like gold, Bitcoin, and foreign currencies.
This is not a global collapse, but a turbulent time that needs caution.
People should learn about the options beyond fiat and adjust their portfolios.
He burned $1M in Bitcoin to warn us about the trillions they print.
Balaji wanted to prove with a costly signal that there is a problem.
He wanted to demonstrate that Bitcoin is worth more than fiat money.
He did this to inform the public because he values human and technological progress.
Balaji has a positive outlook on American individuals, local groups, and worldwide innovation.
He says he wants us to make up our own minds about whether there is a problem or not.
He wants us to be prepared, not passive or panicked.
And be a part of the solution, not part of the problem.
That's why Balaji burned $1M in Bitcoin to tell you they are printing trillions.
What do you think?
Do you agree or disagree with him?
Do you think he is crazy or visionary?
Do you think he wasted his money or made a statement?