Bitcoin to Reach $1 Million: Samson Mow Predicts Massive Surge

Author: Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

May 30, 2024 11:51

JAN3 CEO Samson Mow, along with a Bitcoin advocate, predicts that Bitcoin (BTC) will gradually reach $1 million, emphasizing that it is a matter of “when,” not “if.” Mow’s bullish outlook is based on strong supply and demand dynamics, highlighting the important role of spot Bitcoin ETFs in holding over one million BTC, which is almost 5% of the total supply. Additionally, he discusses the Veblen effect, where demand increases as prices rise, potentially leading to further BTC investments. Despite a recent dip in BTC to $68,000, it remains close to its all-time high of $74,000.