Balaji Srinivasan, an entrepreneur, explained his reasoning for betting that bitcoin ( BTC) would reach $1 million by the 17th of June. He spoke via video link from Austin, Texas, at CoinDesk’s Consensus 2020 conference.

Srinivasan is widely credited for correctly predicting COVID-19 before most others. In response to the devaluation of the U.S. Dollar, he forecast stupendously bullish bitcoin prospects in March. He predicted that the price of bitcoin could reach $1,000,000 in 90 days following March 17.

Could it be that 900 days, or even 90 month’s time is needed? Srinivasan told reporters on Friday that it’s possible but he didn’t give a 100 percent probability.

“I’m burning a thousand dollars to tell you that they are printing trillions.”

He called his prediction a “symbol of the collapse in full trust and credit in the U.S. Financial System” because the government has been printing money to prop up the fragile banking system.