July 4 (Cointime) - Former Coinbase executive Balaji Srinivasan continues to bet on inflation, despite losing $1.2 million on his previous prediction that Bitcoin would surpass $1 million per coin due to inflation.

Srinivasan had previously paid $200,000 to Truflation, a platform that offers "real inflation numbers," claiming that the US government's Consumer Price Index (CPI) numbers were downplaying inflation.

However, Truflation's most recent numbers show inflation rates as low as 2.2%, significantly lower than the 4-5% reported by the US Bureau of Labor Statistics. Despite this, Srinivasan continues to insist that the US economy is on the brink of hyperinflation and collapse.