Bitcoin Maximalist Matthew Kratter Claims $1M Value For BTC, Counters Balaji’s Forecast ⋆ ZyCrypto

Bitcoin is going to hit $1,000,000, but not as Balaji Srinivasan predicts, veteran Bitcoin crusader Matthew Kratter has claimed.

On March 24, Kratter, founder of Bitcoin-focused investment firm Trader University, highlighted Bitcoin in light of the ongoing US banking crisis, noting that the collapse of three major cryptocurrency banks earlier this month had just taken people “one giant step closer to a Bitcoin. standard.”

“What we are witnessing is the ultimate flight to safety as people flee to bitcoin. Where else do you go when the US banking system, which is theoretically the safest banking system in the world, experiences rolling bank runs?” he said.

According to him, the Fed’s decision to reintroduce quantitative easing by turning on the money printers again will increase the dollar’s downside risk and worsen counterparty risk. He thus noted that Bitcoin was the only asset that did not have a downside risk due to its limited nature, meaning that with the Fed printing more money, everything else would just crash against the crypto asset.

Balaji’s $1M Bitcoin Bet in 90 Days Improbable

Kratter also took a jab at a recent Coinbase ex-CTO, Balaji Srinivasan’s prediction that Bitcoin will hit $1 million in about 90 days as of last week.

“This is quite a sensational thing to say. Is this possible? Yes, anything is possible with Bitcoin. Is this likely? I would say definitely not,” Kratter said, referring to Balaji’s prediction.

Balaji’s call was more of a marketing ploy by “trying to use Bitcoin to pump his own reputation” while trying to cover up his earlier war against bitcoin maximalists, Kratter claimed. He further claimed that Balaji was the ultimate self-promoter and VC pumper type who was largely responsible for bringing “shitcoins” to Coinbase.

“We must never forget that he was too busy pumping shitcoins and beating bitcoiners to be so narrow-minded to be a Bitcoin maximalist,” Kratter said.

Kratter further noted that he would be quite worried if Bitcoin were to go to a million dollars within three months, adding that he would consider this not exactly a blessing. In his view, “it’s nice that Bitcoin appreciates slowly and doesn’t draw too much attention to itself.”

He then predicted that Bitcoin would likely trade above $100,000 in three months. “I certainly expect it (BTC) to trade in the millions by the end of this decade, and it will be entirely possible for it to trade over 100,000 in the next three months. he concluded.