Balaji Srinivasan, the former Chief Technology Officer of Coinbase, has predicted profound growth in Bitcoin’s (BTC) value. He believes that a 3,300% increase in price could be possible over the next 90 days. Srinivasan has attributed this bold prediction to an anticipated shift in sentiment in the US banking system. He discussed this in an interview with ARK Invest.

With digital banking on the rise, Srinivasan believes that this shift could take place much faster than anticipated. He explains that "timing is hard and prepping is easy." He believes that people’s lack of confidence in the US banking system and the Federal Reserve’s instability will drive them to pursue refuge in Bitcoin.

Describing it as an ‘ejection from the US banking system’ and the adoption of a ‘Bitcoin parachute’, Srinivasan expresses his confidence in the predictability of this exodus, despite the difficulty in predicting their day-to-day actions in the economy. At the time of writing, Bitcoin is trading at about $27,897, having seen steady growth in recent history.

Srinivasan’s predictions come amidst a period of volatility, not just in the US but globally, due to the uncertain economic environment posed by the Covid-19 pandemic. With Bitcoin being seen as an attractive asset by many investors, Srinivasan believes that it could prove to be a lifesaver and the projected jump in value could indeed be possible.



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