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Ultra-Bullish Bitcoin Statement Made by Samson Mow Ahead of Possible ETF Approval

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Tue, 9/01/2024 - 10:30
Ultra-Bullish Bitcoin Statement Made by Samson Mow Ahead of Possible ETF Approval
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Bitcoin maximalist Samson Mow published several bullish tweets, addressing his army of followers on Twitter about his expectations of Bitcoin potentially reaching $1 million. Mow believes that this price jump may well be unexpected since it may happen at any time, basically. He tweeted this as the approval for a Bitcoin spot ETF looms from the SEC.

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Mow posted a “Bitcoin to $1 million tweet” which was preceded by a thread, stating that Bitcoin potentially reaching $1 million unexpectedly and quickly may upset many Bitcoiners’ plans.

Bitcoin reaching $1 million means “max pain for the most people,” per Mow

Samson Mow stated that once Bitcoin soars to the $1 million mark, and if it does this quickly, a lot of companies, analysts and other market players may see “max pain” – this is what his Twitter thread was about.

First of all, Mow named his own company, Jan3, which has a mission of helping nation-states to adopt Bitcoin as a national currency (El Salvador is a good example here). He stated that for this year, the team has a lot of plans and meetings. Should Bitcoin surge to $1 million, it would “derail everything.”

Jan3 still has a few years to help nation-states adopt Bitcoin. However, Bitcoin hitting $1 million would mean that there is no more time for that: “50 countries reach out frantically & we are overloaded. All of the careful planning and proposals are out the door – just smash buying BTC. And no sleep for the team.”

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“Plan B” analyst and MicroStrategy 

Mow also named several other big figures in the crypto space, who may see their plans and schemes crashed should Bitcoin hit $1 million out of the blue now. Among them is the analyst Plan B and his Stock-to-Flow model for Bitcoin: “S2F model breaks again, just when it was looking like it was going to track correctly.”

This list includes MicroStrategy; its goal of accumulating 1% of the Bitcoin supply would never be reached should Bitcoin hit $1 million soon, even though MicroStrategy is among the top 30 most profitable companies.

El Salvador would miss an opportunity to issue Bitcoin bonds and buy more BTC below the $100,000 level.

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