The million-dollar bet by Do Kwon on Luna reaching $88
In 2022, the founder of Terra, Do Kwon, made a high-stakes bet of one million dollars with cryptocurrency analyst Sensei Algod, challenging whether the price of Luna would exceed $88 in the next 12 months.
The agreement, as reported by Foresight News, included prominent cryptocurrency commentator Cobie as an official witness to ensure accountability.
This bold prediction demonstrated Kwon's confidence in Luna's growth potential amidst market volatility, although the eventual collapse of the token rendered the bet irrelevant. The event highlighted the speculative risks and dramatic narratives that were common in cryptocurrency markets at that time.
