An excellent discussion between Balaji and my colleague Larry White. I don’t think Balaji will win his bet but he was ahead of the banking crisis. It is now clear, for example, that what was important about SVB was not Silicon Valley but a bank and Balaji was among the first to present this clearly. Like Larry, I can imagine the price of Bitcoin and other crypto assets rising due to the crisis as people seek to diversify away from the USD and the US banking system (I’m an advisor to some cryptography), but I don’t see $1 million soon. Larry, however, understands banking issues better than anyone I know (check out his new book Best Money: Gold, Fiat or Bitcoin?) and he agrees with much of Balaji’s analysis, even if it’s not $1 million BTC.
Balaji’s mic is loud but still worth listening for the signal.