Will BEN Token Rise to Occasion? BitBoy Bets 5 Bitcoin on Its Potential

The wager came in response to a remark from Ran Neuner, who forecasted that, in the next year, BEN will have a lower market cap than it currently does.

Ben Armstrong, popularly known as BitBoy, is betting big on the recently-launched BEN token. The prominent influencer disclosed on Twitter that he is willing to wager 5 Bitcoin (BTC) (currently valued at $137K+) on the assumption that, a year from now, BEN will have a larger market capitalization than it does today.

BitBoy’s wager came in response to a statement from Ran Neuner, a fellow influencer and host of the YouTube channel Crypto Banter. Neuner forecasted that BEN would have a lower market cap than it currently does in the next year and offered to bet on the prediction. BitBoy accepted the challenge and suggested a bet of 5 BTC.

I’ll take that bet. I’ll bet 5 BTC https://t.co/t7Agnk5XVx

— Ben Armstrong (@Bitboy_Crypto) May 10, 2023

The BEN token has a total supply of 420.69 trillion, with its entire supply currently in circulation, per data from CoinGecko. BEN’s current market capitalization is $37.5 million, ranking it 507th on the list of tokens by valuation. The asset is looking to break into the top 500.

Neuner has not responded to the wager as of press time. To get his attention after hours of silence, BitBoy asked Neuner in a follow-up tweet if the 5 BTC wager was insufficient. BitBoy believes that the 2024 Bitcoin halving event will have taken place by the time the bet deadline arrives, giving him an advantage.

For context, the 2024 Bitcoin halving event is slated to occur in either April or May. This event will decrease the rate at which new Bitcoin tokens are mined and is expected to affect the overall market positively. BitBoy believes that BEN will benefit from this.

BEN is Currently Down 25%

Launched barely three days ago, BEN has received support from BitBoy, who claims he did not particularly create the asset. According to him, someone else launched the token, and he is only supporting it. As previously reported by The Crypto Basic, Dogecoin founder Billy Markus recently criticized BitBoy for his asset promotion.

Meanwhile, BEN is down 25.6% in the past 24 hours amid the market-wide decline. Despite a 51.61% drop from its all-time high of $0.000000187, the asset is up 512% from its all-time low value. BEN is currently changing hands at $0.000000090184 as of press time.