Maybe Balaji is just trying to pump BTC enough to make himself an extra M on a trade so he can take the bet for publicity and end up net even.

How many of you bought Bitcoin in the last 24 hours after not doing so for many months? 🙃

I’m sure the $1m is somewhat insignificant, but regardless it feels like a stunt

I like baking /goodbread and building apps on web3 protocols. DevRel @ ENS Labs. gregskril.com

I can't buy this. If he does rug then the long term prospects of btc will take a hit and I think his exit will have too much slippage given the size of his bags.

I'm also perplexed. Best bet is that he's hoping there will be some sort of phase change into btc.