Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
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.
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.”
Alex Dovbnya“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.
Tomiwabold Olajide
U.Today Editorial Team
Vladislav Sopov
Dan Burgin