A MYSTERY Aussie punter is looking to place a bet on Bitcoin that would bring in AUD$1.2billion (£670m) if he wins, it was revealed this week.

The unnamed high-roller wants to wager AUD$8.5million (£4.8m) that the price of a single Bitcoin will be worth more than AUD$280,000 (£157,000) by 2023.

Tom Waterhouse with his wife Hoda in Sydney Credit: Getty Images - Getty

Bookmaker Tom Waterhouse posted a message on Twitter on Wednesday that read: "Big Bet: Well known Crypto expert has just requested a bet of $8.5m AUD to win $1.2bn that a Bitcoin will exceed the price of a Berkshire Hathaway share (c.$280k) by 2023.

"Have put him in touch with large syndicate - hope he can get set!"

Waterhouse is believed to be acting as a middle-man to arrange the bet.

In Australia, Bitcoin is currently trading at around AUD$8,000 (£4,485) while a share in the US giant owned by Warren Buffett is currently at AUD$388,000 (£217,545).

Tom Waterhouse made the announcement on his Twitter page Credit: Twitter

The Aussie punter stands to win $1.2bn if the Bitcoin wager comes off Credit: AP:Associated Press

It would seem the punter is looking at odds of 1/141 if he wants the possibility of scooping the grand prize.

Waterhouse started working as an on course bookmaker in 2003 and his company is now Australia's biggest on-track bookies.

He also had an online gambling business tomwaterhouse.com which was one of the country's largest corporate bookmakers with offices in Sydney, Melbourne and Darwin.

He sold it in 2013 in a deal initially thought to be worth AUD$34million, but reportedly had the potential to rise up to as much as AUD$110million with add ons.

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