Bitcoin Wager: $1M Bet on Crypto's Comeback

A significant wager of $1 million has emerged from the cryptocurrency community, dividing prominent figures on Bitcoin's future trajectory. Real estate investor Grant Cardone has challenged early Uber investor Jason Calacanis to this bet, questioning whether Bitcoin will recover to its peak. Calacanis, a vocal critic, recently asserted that Bitcoin's "brutal year is just getting started" and advised followers to "dump it now," citing outflows from Bitcoin ETFs and predicting a significant price drop. He views Bitcoin primarily as a "store of value" with "unlimited upside" for AI being a preferable investment.

Cardone has proposed a specific bet: Bitcoin reaching $126,210.50 by noon Pacific time on October 28, 2028, a figure slightly above its all-time high of $126,080 achieved on October 6, 2025. This bet is contingent on Bitcoin hitting the target price or the deadline passing. Other notable figures, including investor Fred Krueger and producer Terence Michael, have also offered million-dollar bets supporting Bitcoin's rise, though Calacanis has not yet accepted any. Meanwhile, institutional investors like Bitwise present a more optimistic long-term outlook, projecting Bitcoin to reach approximately $1.6 million by 2036, significantly outpacing traditional assets like stocks and gold.