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November 27, 2022
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Elon Musk and the $ 1 million Bitcoin Bet

Elon Musk and the $ 1 million Bitcoin Bet, an unknown person will place the biggest bet on bitcoin in the world of horse racing and possibly sports. The competition is the Kentucky Derby, which will take place today, May 1, at 6:50 pm ET.

O Kentucky Derby is one of the most anticipated competitions in the world of horse racing. It takes place on the race track in Louisville, Kentucky, in the United States.

Bets revolve around horses. And they say someone approached the online gambling and betting agency BUSR, offering $ 1 million in BTC for a horse whose name was kept secret.

Who is the mysterious player? BUSR did not reveal this, but in turn opened bets. These are the favorites:

Elon Musk
Mark Cuban
Mike Novogratz
Jamie Dimon
Tyler Winklevoss
Cameron Winklevoss
Jack Dorsey
Hedge fund manager
Private equity investor

BUSR suggests monitoring Whale Alert to try to find out the transaction that will bring BUSR $ 1 million in bitcoin.

Biggest bitcoin bet on sports

James Ross from BUSR explains:

“At first, we thought it was a joke from a competitor or someone who had started celebrating the classic a few days earlier with lots of mint juleps from the Woodford Reserve.”

But then it was decided to place the bet, which, they say, is the biggest made in bitcoin certainly in this competition. And maybe in the sporting world:

“This is by far the biggest bitcoin transaction made for a Kentucky Derby bet and perhaps the biggest bitcoin bet on any sporting event. End”.

No word on the identity of the gambler:

“The privacy of our members is the foundation of our business. If that individual chooses to tweet about their bets, we’ll find out when Twittersphere does that too. ”

Certainly, however, the use of bitcoin and cryptocurrencies in the betting world is a testament to the growing adoption of crypto. And it’s not just about those who are willing to bet $ 1 million in bitcoin, but also smaller investors.

James Ross explains in this regard:

“With bitcoin’s runaway prices over the past year, we’ve noticed a significant increase in members using bitcoin and ether [Ethereum] when they finance their accounts, ”said Ross. “But what’s much more interesting – from the data point of view – is the fact that there are thousands of deposits of $ 500 or less by members using cryptocurrency. The percentage of deposits via crypto has tripled since 2018. This reinforces the adoption of cryptocurrency, with regard to the games industry. It’s not just whales that bet online with bitcoin ”.

It remains to wait for the Kentucky Derby race to find out who was the person who bet 1 million on bitcoin. And, above all, if he bet on the right horse.

Source: Cryptonomist

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