Bitcoin Enthusiast Loses Price Bet, Eats Hat

An extremely optimistic American has filmed himself eating his hat after losing a bet on the BTC price.

Mar 28, 2014 at 9:14 p.m. UTC
Updated Sep 14, 2021 at 2:08 p.m. UTC

An American bitcoin enthusiast has filmed himself eating his hat after losing a bet.

Acting in what, with hindsight, was extreme optimism, the man wagered that the bitcoin price would not fall below $1,000. Yes, we are fully aware that it was not a good bet to make, and so, now, is the unnamed fan of the digital currency.

The video – posted by someone titled, of course, 'Hat Eater' – showed up on reddit on Thursday, and soon spread through social networks and cryptocurrency communities.

Bitcoin bon appétit

What can we say? The 45-minute video depicts Hat Eater eating a hat. A red, cotton one. The unwelcome snack took him three days, a few sandwich, some ice tea and a couple of beers to force down. Some ketchup was also involved.

So far the video has notched up 120,000 views on YouTube and as you may expect, the comments are just as ridiculous as the video itself. Some called it integrity, others believed it was pointless and plain silly.

In any case, there's one less hat in the world and bitcoin has slipped to around a half of the $1,000 minimum the naive gambler set. Let's just hope it was a one-off bet and there's nobody out there who made a similar wager at $500.


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