Billionaire Mike Novogratz won 0.50 Bitcoin (BTC), or currently $7,726, for betting on Joe Biden as the winner of the US presidential election.
I won an election bet with @StoneyBitson. 1/2 BTC. I am going to have a lottery for young bitcoiners for that coin. No one can enter who already owns a bitcoin. I’m thinking of a number between 1-1000. Whoever guesses first gets it. I’ll have Stoney send directly. One guess.
— Mike Novogratz (@novogratz) November 7, 2020
The bet on the US elections was made together with Novogratz’s friend Stoney Bilson, tagged in the post.
The two decided to donate the winnings to those who don’t have any Bitcoin (BTC) yet, so the 7 thousand dollars will in fact be given to those who will reply to Novogratz’s tweet and guess what number from 1 to 1000 they thought.
Obviously, it will be difficult to understand if the Twitter user who will win is really a person who doesn’t already have any bitcoin, since it’s easy to create a new wallet and “demonstrate” that they don’t have any. What’s certain is that the initiative is praiseworthy, at least in its intent, encouraging new users to learn more about cryptocurrencies.
Novogratz’s bet on the US elections
Unfortunately, we do not know where this bet took place, whether on a platform or among friends.
However, platforms such as FTX or Polymarket, defined as “prediction markets”, have been widely used during this time to bet on US elections using Bitcoin.
Even on the EOS blockchain there was a poll on whether Brock Pierce had won or not some time ago.
Since last year, it has been possible to create and participate in referendums and polls directly on the EOS blockchain.
Who is Mike Novogratz
Novogratz is the CEO of Galaxy Digital Holdings, a financial institution dedicated to digital currency and blockchain technology, offering asset management, trading and advisory services.
Galaxy recently signed an agreement with Bakkt to provide the best tools to buy, sell and store Bitcoin with direct services to institutional investors.
As a result, Novogratz is responsible for promoting Bitcoin and blockchain technology, often also predicting the price of the asset. Just recently Novogratz stated that the price of BTC could soon rise again to $20,000 by the end of 2020.