Samson Mow, a prominent Bitcoin advocate and CEO of Jan3, has recently sparked a significant discussion with his extremely bullish prediction for Bitcoin’s future. Mow suggests that Bitcoin could potentially surge to $1 million “basically at any time,” a prediction that aligns with the pending approval of a spot Bitcoin exchange-traded fund (ETF) by the US Securities and Exchange Commission (SEC).
This prediction was part of a broader series of posts where Mow explored the potential consequences of such a dramatic price increase for Bitcoin. He emphasized that a sudden spike to the $1 million mark could disrupt the plans of various companies, analysts, and market players.
Among those potentially affected is Mow’s own company, Jan3, which aims to help nation-states adopt Bitcoin as a national currency. Mow noted that a swift rise to $1 million could inundate the company with requests from countries, disrupting carefully planned proposals.
Other notable figures in the crypto space who might face challenges include Plan B, known for the Stock-to-Flow (S2F) model, and MicroStrategy, which aims to accumulate 1% of BTC’s supply. Mow revealed that a rapid rise to $1 million would mean that Plan B’s S2F model “breaks again, just when it looked like it was going to track correctly.”
El Salvador, another example cited by Mow, could miss the opportunity to issue Bitcoin bonds and accumulate more BTC below $100,000. Mow stressed that Bitcoin’s unpredictability makes a rapid move to $1 million likely, causing “max pain” for the most significant number of people.
While many in the crypto community appreciated Mow’s bullish outlook, some expressed doubts about the feasibility of such a swift rise to $1 million. In response to these doubts, Mow cited the multiplier and Veblen effects as factors that could drive this rapid increase. An X user named Peter echoed the sentiment of many who would prefer a more gradual price increase, allowing for more accumulation at current levels and broader adoption among the unbanked.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇸🇻 |
| Sentiment | positive |
| Relevance Score | 1 |
| People | Samson Mow, Plan B |
| Companies | US Securities and Exchange Commission, MicroStrategy, Jan3 |
| Currencies | Bitcoin |
| Securities | None |
