According to a report, Crypto enthusiast and former Coinbase CTO, Balaji Srinivasan, is launching “The Balaji Fund” which will focus on “crypto and web3″,” AI and frontier technologies. This is also a departure from his previous position where he forecasted hyperinflation and Bitcoin reaching a million dollars within 90 days (for which he was proven to be wrong).
The fund has a minimum $100,000 investment and the focus is towards accredited investors. Nevertheless, the position of Srinivasan is called into question by his previous position. In spring of 2023, he forecast hyperinflation and Bitcoin prices that will climb to a million dollars. The forecast fell apart when it didn’t materialize.
His sudden euphoria about the America and US dollar is also something we do not understand. Has he blind changed from Monetary policy? Is he doubtful about spending his own cash in high-risk projects? The reasons remain unclear.
