Fintech
Bitcoin Will Hit $1 Million: Samson Mow Predicts Massive Rise
JAN3 CEO Samson Mow, along with a Bitcoin advocate, predicts that Bitcoin (BTC) will gradually reach $1 million, stressing that it is a question 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 a million BTC, or nearly 5% of total supply. Furthermore, he discusses the Veblen effect, where demand increases as prices rise, potentially leading to further investment in BTC. Despite BTC’s recent drop to $68,000, it remains near its all-time high of $74,000.