- Samson Mow, CEO and Co-Founder of Jan3, believes Bitcoin is on its way to reaching a $1 million price value.
- Bitcoin supporters are generally loyal to the potential of Bitcoin, so price predictions from these figures often resemble those of the most bullish market players in history.
- Originally, he made a bet with James Medlock, who claimed that Bitcoin would not reach $1 million on June 17. The bet involved 1 BTC and $1 million worth of USD Coin (USDC).
Samson Mow, CEO and Co-Founder of Jan3, shares his views on the $1 million price target for Bitcoin!
Mow’s Expectations for Bitcoin
Samson Mow, CEO and Co-Founder of the revolutionary blockchain technology company Jan3, believes that Bitcoin is on its way to a $1 million price value. Describing himself as the “architect” of Bitcoin bonds, Mow claims that popular Bitcoin supporter Balaji S. Srinivasan, who predicted that Bitcoin would reach the same price point, was correct.
However, there seems to be a disagreement with Srinivasan about how long it will take for Bitcoin bulls to gain enough momentum to achieve this price prediction. Mow explains:
“Balaji wasn’t wrong about Bitcoin going to $1 million, but he was wrong about the timing and catalyst. My $1 million prediction is influenced by a significant influx of fast institutional capital as Bitcoin is being sold at historically low levels and is also impacted by the halving.”
Bitcoin supporters are generally loyal to the potential of Bitcoin, so price predictions from these figures often resemble those of the most bullish market players in history. Some market players prefer to play it safe and make modest predictions, while Bitcoin supporters often make bold long-term predictions.
Indian-American entrepreneur, investor, and former Chief Technology Officer of Coinbase, Balaji S. Srinivasan, is an example of this. In March, Srinivasan made a $1 million bet on Bitcoin reaching $1 million within a 90-day timeframe due to increasing inflation in the United States.
Originally, he made a bet with James Medlock, who claimed that Bitcoin would not reach $1 million on June 17. The bet involved 1 BTC and $1 million worth of USD Coin (USDC). Srinivasan lost the bet months later as Bitcoin’s price failed to meet expectations.
Mow Shapes the $1 Million Prediction
Insisting that Bitcoin will take a different path from its current position to $1 million, Mow wrote, “His (Balaji S. Srinivasan) $1 million prediction was based on money printing and bank failure. While those could be drivers for a potentially rapid run, it’s not likely. Money printing has already happened and then stopped. It will take a few more years for the market to adjust accordingly if traditional banks fail, bank loyalists will find a safer bank as they have yet to realize that banks are not as secure as Bitcoin, their only option.
