I'm trying to parse what are the actual conditions of the bet? How much did he hedge?

Counterparties can bet that bitcoin's price will be less than $1m in 90 days with ~40:1 odds. Specifically, he bet 2 people bitcoin will be at $1m in 90 days. If he wins, they pay him 1 bitcoin. If they win, he pays them $1m.

0 sats \ 1 replies \ @ar 18 Mar

Did the other people KYC or is this a new boating accident strategy?

I think it’s people he knows