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Samson Mow, a vocal Bitcoin permabull and the JAN3 CEO, says he expects hyperbitcoinization to come soon, thanks to governments of various countries.
He also revealed the most likely scenario for Bitcoin to reach $1 million per coin as a result of this.
Most likely $1 million Bitcoin scenario, per Mow
In a recent interview, Samson Mow shared a scenario that he believes will lead to Bitcoin hitting $1 million per coin. It will happen, he said, very quickly, and it will not be a "gradual, slow increase" but rather a "very short and violent upheaval that sends us there in a matter of weeks to months."
One reason why it will happen, he said, is the upcoming failure of fiat currencies. “They don’t gradually fail. They fail spectacularly. And this is the premise behind the $1 million Bitcoin call,” he said.
Hyperbitcoinization is coming, Samson Mow says
The JAN3 boss also pointed out that more and more countries have started mining Bitcoin, making it public knowledge, bringing global hyperbitcoinization closer. A great example here, he said, is Bhutan, which has been mining since 2019. Its current Bitcoin holdings are worth nearly one trillion dollars.
This is a major indication that hyperbitcoinization is coming, Mow believes, adding that countries that have excessive energy supply are going to tap into it and use it to finance various things.
Besides, according to Mow, the world is on the verge of seeing governments issuing sovereign debt, and the proceeds will be used for accumulating Bitcoin, so a global Bitcoin Bond program is likely coming too. Mow stated that Michael Saylor and his Strategy firm have proved that this fundraising model works very well. “It’s simply a matter of time before every country pulls that trigger,” Mow assumed.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team