Terra founder accepts $1m bet on LUNA price and crypto Twitter goes nuts

The pseudonymous crypto investor Sensei Algod announced they were ready to bet $1m that a year from now LUNA will cost less than today.

Algod challenged Terra co-founder Do Kwon, LUNA enthusiast CryptoHarry and José Maria Macedo from Delphi Digital, as well as basically anyone willing, to accept the bet.

Four minutes later, Do Kwon replied.

Cobie, a crypto investor and blogger, agreed to provide an escrow wallet address and the details of the bet were agreed on the next day. If the 24-hour average price of LUNA on March 14th, 2023, will be higher than $88, its price at the time the wager was accepted, Algod loses the bet.

The bet spawned hundreds of retweets, comments and @RemindMe_OfThis requests. The next day, pseudonymous forecaster and prospective 2024 presidential candidate GiganticRebirth expressed interest in the same bet, but raised the stakes to $10m. He would have offered $50m, he said, but “escrow becomes tricky”.

Do Kwon was quick to accept this one, too. The funds have since been deposited in Cobie's wallet, and the bets are on.