Former Coinbase CTO, Balaji Srinivasan, has recently made a daring prediction that Bitcoin (BTC) could skyrocket by over 3,300% from its current value within 90 days. In an interview with ARK Invest, Srinivasan explained that he believes troubles in the US banking system will force people to turn to Bitcoin.

When asked about his prediction, Srinivasan stated that he didn't think it was impossible for BTC to hit $1 million in less than three months, given the speed of digital bank runs. He explained that he expects to see an exit from the US banking system towards Bitcoin over the coming weeks and months.

Srinivasan claims that the Federal Reserve has caused instability that could cause a lot of people to seek refuge in Bitcoin. He explained that Bitcoin is the embodiment of free markets, and now people are voting against the central planning of a very different kind. Srinivasan sees this as a true election between the USD and BTC, where Bitcoin has emerged as the clear winner.

Although he cannot predict every single gyration the macro economy will make, Srinivasan believes that passengers are hitting the eject button and turning to Bitcoin as a "parachute" to escape the turbulence caused by the Fed. He sees this trend continuing for the foreseeable future.