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‘$1 Million Bitcoin’ Advocate Samson Mow Says Price Run Not Even Started Yet

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Tue, 12/03/2024 - 9:10
‘$1 Million Bitcoin’ Advocate Samson Mow Says Price Run Not Even Started Yet
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Former Blockstream CSO and now head of Jan3 Bitcoin-focused company Samson Mow is a rigid Bitcoin maximalist who expects the leading cryptocurrency to reach $1 million no matter what.

While praising Bitcoin ETFs and criticizing the much-awaited spot ETFs based on Ethereum, Mow recently made a few super-bullish statements on the further potential surge of the Bitcoin price.

"We haven't really started with Bitcoin price run yet"

Samson Mow has commented on the new price all-time high smashed by Bitcoin on March 11, when it suddenly surpassed $72,000, reaching the $72,880 level the day after that, thus leaving the cryptocurrency community in awe.

Mow enthusiastically tweeted that Bitcoin has not even begun its price run yet, adding that “faces won’t be melted, they will be atomized.”

Overall, Mow believes that Bitcoin reaching $1 million per coin is only a matter of time, and it may happen pretty soon. On Monday, he tweeted that it is still possible to buy BTC below $0.08 million (Mow is now referring to the Bitcoin price using one million as a starting point) as if hinting that this opportunity will hardly last much longer with the current pace of BTC scoring new all-time highs.

Related

$1.0 million Bitcoin "already decided"

In another bullish tweet published on Monday, Mow stated that he believes the January approval of spot-based Bitcoin exchange-traded funds was the turning point for Bitcoin, and it ensures that BTC will definitely reach the much-spoken-of $1 million mark in the future.

What is happening to the Bitcoin price now, according to Mow, is “we’re just coasting along.” He also admitted he was surprised to see that a lot of people failed to see “how much of a structural change” the ETF approval brought for Bitcoin.

Within two months after the launch, spot Bitcoin ETFs now boast a whopping $55 billion worth of assets and the trading volume of $110 billion (a double amount of the former). Bloomberg’s senior ETF analyst Eric Balchunas has called these results "simply absurd" to be reached in just eight weeks.

On Monday, Bitcoin staged a rise of 7%, skyrocketing from $68,067 to $72,880. By now, the price has retreated by 1.60%, reaching $71,773, where Bitcoin is trading now.

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