HomeCryptocurrencySamson Mow explains Bitcoin price with $1 million plan, emphasizing its value...

Samson Mow explains Bitcoin price with $1 million plan, emphasizing its value and potential.

Samson Mow: $1 Million Bitcoin Price Gameplan

Samson Mow, the CEO of Jan3 and a prominent Bitcoin advocate, recently shared his insights on the potential for Bitcoin (BTC) to reach a staggering $1 million price point. He delved into the supply and demand dynamics of the spot Bitcoin ETF product, shedding light on a crucial factor that many overlook – the rate of accumulation.

Mow emphasized the significance of regulated investment products like the spot Bitcoin ETF, which typically allocate a portion of their funds to invest in the underlying asset, BTC. Drawing a parallel to MicroStrategy’s significant accumulations of 14,000 BTC and 16,000 BTC units, Mow highlighted the impact of these large-scale investments in driving the demand for Bitcoin.

- Advertisement -

Further elaborating on the market dynamics, Mow compared the average daily BTC acquisition of BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity Investments’ FBTC product, painting a compelling picture of the substantial buy-ups that are currently underway. With these combined efforts amounting to approximately 9,000 BTC per day, Mow foresees a supply crunch once the spot Bitcoin ETF product reaches full maturity.

Adding to the intrigue is the impending Bitcoin halving event, which Mow sees as a significant factor complementing the growing supply shock. With the estimated daily production of Bitcoin at 900 BTC, the demand generated by the spot Bitcoin ETF issuers in the U.S. is poised to surpass the available supply by a substantial margin. Mow predicts that the halving will further amplify this demand-supply gap, providing a positive impetus for the price of Bitcoin.

Mow’s unwavering confidence in his $1 million Bitcoin price forecast is underscored by his comprehensive analysis, as he urges money managers to strategize and position themselves accordingly in light of these market dynamics.

Must Read