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Ex Coinbase CTO Balaji Clarifies 10% Chance of Sovereign Default Is ‘Very High’

Former Coinbase CTO Balaji Srinivasan believes there is a “very high” chance that sovereign defaults will happen within months, which will cause Bitcoin’s price to skyrocket.

He was clarifying comments he made about when a potential fiat crisis will take place during his talk at Consensus 2023, which the community misunderstood.

Srinivasan said that such a crisis is the reasoning behind the prediction he made in March about Bitcoin hitting $1 million after 90 days. He said:

“Could it be that it takes 900 days or even 90 months? It’s possible, I don’t have a 100% probability on it.”

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