Samson Mow, a Bitcoin maximalist and CEO of JAN3, a company that helps nation states adopt BTC, has commented on the recent Bitcoin sell-off, during which the world’s largest cryptocurrency has twice plummeted below $60,000.
Samson Mow, a Bitcoin maximalist and CEO of JAN3, a company that helps nation states adopt BTC, has commented on the recent Bitcoin sell-off, during which the world’s largest cryptocurrency has crashed twice by below $60,000.
Mow believes that all the Bitcoin being sold now will be gobbled up by big sharks anyway.
Samson Mow’s comment on the Bitcoin sell-off
The Bitcoin bull made a bullish statement on BTC, saying that no matter how much Bitcoin has been sold and is going to be dumped in the coming weeks and, perhaps, months, it will all be absorbed by the market anyway.
Mow was most likely referring to Bitcoin ETF spot issuers, who have been actively acquiring the digital currency since mid-January after the SEC granted approval to begin trading.
Mow’s Million Dollar Bitcoin Prediction
This week, Bitcoin permabull Samson Mow made a surprising BTC prediction, saying that the flagship cryptocurrency is very likely to hit a staggering $1 million price level over the next year. He wrote that in a tweet posted earlier in the week.
During a video podcast, he clarified that BTC is very close to hitting $1 million, and that this could happen this year or next year. Even if it doesn’t happen in 2025, he said, this price jump will surely happen soon.
Yuri MolchanMow has been talking about the high chances of Bitcoin reaching this impressive price level since the year started and the SEC gave the green light to exchange-traded funds that track the spot price of BTC. Eleven major funds, including BlackRock, VanEck, Ark Invest, and Grayscale, filed applications to launch these ETFs last year.
Once permission was granted, these ETFs began absorbing all the Bitcoin they could see and purchased over 10,000 BTC every day between the ETF approval and the BTC halving that occurred on April 19.
These regular purchases of Bitcoin by ETFs and the decreasing Bitcoin block reward led Mow to expect that BTC is on the verge of skyrocketing to $1 million soon. He explained this prediction by saying that there is now a huge shock in demand for Bitcoin thanks to ETFs, and a massive shock in supply due to the halving. Once these two BTC shocks collide with each other, it will cause Bitcoin to skyrocket, he said.
