Musk Vs. Zuckerberg Fight Has Crypto Gamblers Seeking 80% Returns On Potential Billionaire's Clash

In a showdown that has captured the imagination of the internet, renowned tech moguls Mark Zuckerberg, the CEO of Meta, and Elon Musk, the influential figurehead of Tesla and Twitter, have ignited speculation over a potential Mixed Martial Arts (MMA) showdown

What Happened: This unexpected turn of events has prompted crypto gamblers to engage in wagering, as they eagerly await the outcome of a clash between the billionaires.

Data from Polymarket, a blockchain-based betting platform currently lists the “Musk” shares at $0.51 each, while the “Zuck” shares are valued at $0.50.

Blockchain-based prediction markets offer a venue where users can place bets and have them settled through smart contracts using cryptocurrencies. These permissionless platforms enable gambling on a wide range of topics. 

To participate on the platform, users are required to purchase USDC USDC/USD , a stablecoin that is pegged to the value of the U.S. dollar. These tokens serve as the primary currency for trading on Polymarket. 

However, should the highly-anticipated fight fall into a draw, be canceled, or conclude without a clear victor, the market will resolve evenly at 50-50, leaving all bettors on an equal footing. 

Additionally, if no fight is scheduled between the two opponents before August 31, 2023, 11:59:59 PM ET, the market will also resolve at 50-50.

See More: A Stay At The Floating Palace From James Bond's ‘Octopussy’

Why It Matters: On a financial front, those favoring Zuckerberg, betting $100 on his possible triumph, currently stand to receive a substantial $182 payout, translating to a 82% return on investment. Meanwhile, supporters of Musk’s hypothetical victory would secure a  $178, offering a 78% return on their wagers.

In yet another Twitter exchange between the two, Musk took a shot at Zuckerberg by calling him a "Cu*k". The exchange started when a fan suggested that Zuckerberg should venture into space solely to irritate Musk, to which the META founder reacted with a laughing emoji. 

Read Next: Bitcoin, Ethereum, Dogecoin Rise Amid Uptick In BTC Wallets To All-Time High: Analyst Says This Is How Long It Will Take For King Crypto’s ‘Big Move’

Join Benzinga’s Future of Crypto in NYC on Nov. 14, 2023, to stay updated on trends like AI, regulations, SEC actions & institutional adoption in the crypto space. Secure early bird discounted tickets now!

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: CryptocurrencyNewsMarketsElon MuskMark ZuckerbergTeslatwitter
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...