{"id":12770,"date":"2023-08-07T07:03:03","date_gmt":"2023-08-07T07:03:03","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=12770"},"modified":"2023-08-07T07:03:04","modified_gmt":"2023-08-07T07:03:04","slug":"bitcoin-og-bets-surprising-sum-on-btc-hitting-100k-before-the-halving","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=12770","title":{"rendered":"Bitcoin OG bets surprising sum on BTC hitting $100K before the halving"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>Blockstream CEO Adam Back, one of the crypto\u2019s early pioneers, is pretty confident Bitcoin will hit an all-time high of over $100,000 before Bitcoin&#8217;s halving in 2024 \u2014 and is willing to drop a million wagering on it.<\/p>\n<p>In an Aug. 7 conversation on X (formerly known as Twitter), Back agreed to a bet with pseudonymous X user @Vikingobbitcoin that Bitcoin would reach $100,000 by March 31, 2024. Vinkingo\u00a0said they believe it won\u2019t happen until 2025. <\/p>\n<p><em>The origins of the wager. Source: X<\/em><\/p>\n<p>The wagered date comes in roughly a month before the halving \u2014 which is currently on track for April 26 \u2014 as Back believes that the price will \u201cprobably\u201d reach a new all-time high sooner than the actual date of the halving. <\/p>\n<p>Bets on dramatic increases in the price of Bitcoin have attracted huge sums in the past, such as Balaji Srinivasan\u2019s $1 million 90-day Bitcoin bet in March. <\/p>\n<p>Beck\u2019s also been bullish about Bitcoin in the past, saying in February that Bitcoin could reach $10 million by the sixth halving in 2032. <\/p>\n<p>This time, Back is actually setting down hard-earned funds to back his most recent claim. Unfortunately, it\u2019s a million satoshis, not U.S. dollars. That\u2019s only $290 in current prices (or over $1,000 if Back\u2019s prediction comes true).<\/p>\n<p><em>Adam Back accepts 1 million satoshi wager. Source: Twitter<\/em><\/p>\n<p>A satoshi \u2014 \u201csat\u201d for short \u2014 is the smallest divisible unit of Bitcoin, and there are 100 million sats to a single BTC.\u00a0<\/p>\n<p>Thus, it\u2019s a rather small bet for Back, given his net worth is estimated to be somewhere between $50 and $300 million.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>How will Bitcoin halving affect BTC price, and is DeFi dead?<\/em><\/strong><\/p>\n<p>However, in a response to Back\u2019s original post, Jan3 CEO and fellow Bitcoiner Samson Mow said that he too expects a new all-time high for Bitcoin \u201cpre halving, not post.\u201d<\/p>\n<p lang=\"en\" dir=\"ltr\">I also think new ATH pre-halving, not post.<\/p>\n<p>\u2014 Samson Mow (@Excellion) August 5, 2023<\/p>\n<p>Despite the small bet, it has attracted some snide replies in the responses \u2014 but still reflects a growing bullish trend on the price of Bitcoin among market commentators and analysts ahead of next year\u2019s halving. <\/p>\n<p>Meanwhile, in a Feb. 24 interview with Cointelegraph, Charles Edwards, the founder of Capriole Investments, said that the upcoming halving will see Bitcoin become the \u201chardest asset in the world\u201d and predicted that the market is already in the early stages of a new bull cycle. <\/p>\n<p><em><strong>Magazine:\u00a0<\/strong><\/em><strong><em>Deposit risk: What do crypto exchanges really do with your money?<\/em><\/strong><\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/adam-back-bitcoin-price-bet-all-time-high-halving\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Blockstream CEO Adam Back, one of the crypto\u2019s early pioneers, is pretty confident Bitcoin will hit an all-time high of over $100,000 before Bitcoin&#8217;s halving in 2024 \u2014 and is willing to drop a million wagering on it. In an Aug. 7 conversation on X (formerly known as Twitter), Back agreed to a bet with [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12771,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-12770","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/12770","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12770"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/12770\/revisions"}],"predecessor-version":[{"id":12772,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/12770\/revisions\/12772"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/12771"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12770"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12770"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12770"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}