Terra (LUNA) is one of the most sought-after projects of the current bull market. Its founder Do Kwon has taken a bet and predicts how much the coin will be worth a year from now. Big money is at stake.
One day after the first bet between co-founder of Terra (LUNA), Do Kwon, and Sensei Algod, another bet arised. This time the stakes were much higher. The bet regards the projected price of LUNA on March 14, 2023. The project’s creator estimates that it will be higher than the $88 on the charts on the day of the challenge. His opponents take the opposite view.
Sensei Algod bet exactly $1 million. Kwon responded by pledging to donate the same amount to the charity regardless of the outcome of the bet.
24 hours later, the stakes were raised. There appeared a Twitter user known as GCR (Gigantic Rebirth), who decided to make the same bet but for a much higher amount. We are talking about 10 million dollars. As it turns out, Kwon also agreed to such a proposal. Both parties transferred $10 million each in stablecoins (USDT in the case of Taerralabs CEO and USDC in the case of GCR) to an independent escrow account under the control of widely known in the crypto community Cobi.
Thus, the total value of the bet reached $22 million. This amount was frozen for at least one year.
GCR making the bet uses an interesting argumentation for its type:
“Interested in the same bet for $10 million [considered offering $50 million but escrow is getting tough]. I will donate half to charity. Expect the price to pump short term, but within 1 year I am absolutely convinced that the current narrative will be lost.”
Of a different opinion is Kwon, who sees solid fundamentals for Terra (LUNA), as well as demand for this type of token.
Wondering why Terra (LUNA), is such a popular project? Take a look at the article “What is Terra (LUNA)?” and learn more about it!