The co-founder of Real Vision, Raoul Pal, poured cold water on the likelihood of Bitcoin hitting $1 million in the next 90 days.

Pal told Anthony Pomplino that Balaji Srinivasan’s $1 million Bitcoin bet has zero chance of happening. However, he said the concepts underlying the bet, namely the impact of hyperinflation on asset prices, are — in his view — still valid.

On March 16, Twitter user James Medlock put out an open bet “that the US does not enter hyperinflation.” Disagreeing with Medlock, the former Coinbase CTO Srinivasan accepted the bet.

Under the terms of the bet — should Bitcoin fail to reach $1 million by June 17 — Medlock stands to win $1 million and have his 1 BTC collateral returned. Likewise, if Bitcoin hits $1 million or more by the deadline, Srinivasan will win 1 BTC and have $1 million returned.