The $1 Million Bet
The $1 million wager was started by a pseudonymous cryptocurrency investor that goes by the name “Sensei Algod” on Twitter (NYSE:TWTR), and this began on March 13, 2022.
Sensei Algod initiated this wager by making a public offer to bet anyone $1 million that the price of LUNA would be lower than it was at the time of the proposal in one year.
When this proposal was posted, the value of the LUNA token was $88. Do Kwon responded with, “Cool, I’m In.”.
Specifically, Kwon said that he would match a $10 million bet if Gigantic Rebirth funded Cobie’s escrow wallet.
On the Flipside
Why You Should Care
Bets like this essentially boost the popularity and hype surrounding cryptocurrency projects, and this will surely put a dent in the price of the LUNA token, which has increased to $91 ever since this bet occurred as of March 15.
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Source: Cryptocurrency - investing.com
