Balaji Srinivasan Ends Bitcoin Bet 97% Below Target Price: Not In ‘Habit Of Publicly Burning A Million Bucks’

Balaji Srinivasan, the former CTO at Coinbase (NASDAQ:COIN), has closed out his $1 million bet on Bitcoin (CRYPTO: BTC), conceding defeat as the apex cryptocurrency has declined 97% below the target price. What Happened: Srinivasan has, instead, donated a total of $1.5 million to three different organizations, including $500,000 to Bitcoin Core developers, $500,000 to a non-profit charity Give Directly, and $500,000 to a pseudonymous Twitter user.