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Samson Mow, a prominent Bitcoin proponent and the CEO of JAN3, has made an important Bitcoin statement, hinting that those who are hesitant about buying BTC now will still have to do it later — but at a much higher price.
He published a tweet that might seem confusing to some if not looked at carefully.
Bitcoin could suddenly go to "zero...point five million"
Mow is a well-known predictor of Bitcoin soaring in price so high that it will be able to reach $1 million. He has tweeted many times about “Omega candles,” which would raise the Bitcoin price to a great extent at once.
Therefore, in his tweet published today, he “warned” that when those who are hesitating to buy Bitcoin finally decide to do it, they may find that BTC has gone to “zero...point five million.”
Mow sort of trolled those who expect Bitcoin to “go to zero” eventually, saying that it may go to zero indeed but not quite in the way they expect it. It would be a totally different zero.
Per Mow, the main triggers for Bitcoin’s potential price surge to $1 million are its growing scarcity and wide adoption by financial institutions, and also by nation-states, in the future. Every four years, a new Bitcoin halving takes place, reducing the block reward by half. As of January 2024, spot Bitcoin ETFs have been heavily accumulating BTC. Plus, more and more companies are copying Strategy’s playbook and are accumulating Bitcoin, raising funds for it through issuing securities.
Due to all these factors, the amount of Bitcoin left to buy is rapidly decreasing.
People prevent themselves from owning Bitcoin, unlike corporations: Mow
In a recent interview, Mow elaborated on the question of whether corporations and nation-states could buy all the Bitcoin on the market. He sort of avoided directly answering that, stating instead that average holders do not understand Bitcoin well enough to be buying it below $100,000.
Mow reckons that people preferred not to buy BTC when it crashed to $80,000 or $90,00,0, but he says they will want it when it goes much higher than $100,000, and that those holders are making their own hurdles to acquiring BTC. Meanwhile, treasury companies with unlimited budgets, unlike those of average holders, continue to scoop up all Bitcoin within their reach.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team