”The former chief technology officer at crypto exchange Coinbase Balaji Srinivasan said his $1 million bet on bitcoin (BTC) has been closed out ahead of time, and he has donated $1.5 million ($500,000 more than required) to three different entities as settlement.”https://www.coindesk.com/business/2023/05/02/balaji-closes-bitcoin-bet-with-15m-in-donations-including-500k-for-bitcoin-core-development/I find it weird since this bet is obviously bullshit because Bitcoin will never gonna hit 1M$ in 90days. This CTO is not dumb enough to waste money on this sure lose but.
I’m speculating that this guy is trying to get away with taxes by sending his money as donation on projects that he is involved behind. I smell tax evasion on this rather than a lose bet. What do you think?
By the way, someone predicted that within 90 days Bitcoin will hit 1M$ each, has it been 3 months since someone predicted this? It's not even 3 months yet, right?
If we look at it right now 1M$ is a far cry from 29K$ over Bitcoin's current market price. What was this person thinking when he said such a thing? Now, if the amount of 1.5M$ is donated, it is possible that it is avoiding the tax and it is also possible that the person given the donation is an accomplice in this matter.
