As a seasoned crypto investor with a keen interest in Bitcoin, I can’t help but be excited by the recent comments from Samson Mow, the CEO of JAN3 and prominent Bitcoin advocate. His prediction that Bitcoin will eventually reach $0.1 million, which he believes is an inevitable outcome, resonates with my own belief in the long-term potential of this digital asset.
Bitcoin advocate and CEO of JAN3, Samson Mow, expressed his belief on X social media (previously Twitter) about the potential timeline for Bitcoin reaching the $100,000 mark. He described this milestone as an “inevitable” step towards Bitcoin ultimately surpassing the $1 million mark, which he referred to as “$1 million.”
Additionally, he composed several tweets expressing his views about Bitcoin’s significance, which he thinks is gaining momentum at an accelerated rate.
Key Bitcoin $0.1 million driver from Samson Mow
The CEO of Jan3 has identified two reasons why he thinks Bitcoin could reach $100,000. The first reason is that Bitcoin must first exceed its prior record high of $73,750, which it reached on March 14, in order to experience exponential growth and hit the six-figure mark.
In a recent tweet, Mow expressed that reaching a new historic high could trigger a significant Bitcoin demand surge, causing prices to soar as high as $1 million.
When Bitcoin’s price exceeds its all-time high for the first time, a chain reaction of increased demand occurs, potentially driving the price upward towards $100,000.
— Samson Mow (@Excellion) June 5, 2024
Bitcoin soars above $71,000, Samson Mow comments
In the last 24 hours, Bitcoin, the most prominent decentralized digital currency, has experienced a significant surge of 3.68%, lifting its price back over the $71,000 mark from its previous level of $68,706 on May 4. Bitcoin saw notable growth on May 4 with three successive green candles, resulting in nearly a 3% increase and regaining the $70,000 threshold. The remainder of the price rise occurred today.
The unexpected and significant increase in Bitcoin’s price can be attributed to the substantial daily investments worth $887 million into spot Bitcoin ETFs on Tuesday. This is the largest single-day investment since the ETF’s approval back in January.
Approximately $274 million worth of bitcoin flowed into BlackRock’s iShares Bitcoin Trust (IBIT), while the ARK 21Shares Bitcoin ETF (ARKB) attracted significant investments totaling around $139 million.
Samson Mow expressed amazement in a tweet over the large-scale purchasing activity, remarking that it’s astonishing Bitcoin managed to stay under the $0.7 million mark given the extent of buying compared to the existing supply.
It’s astonishing that Bitcoin’s price remained under 700,000 dollars considering the high demand relative to its supply.
— Samson Mow (@Excellion) June 4, 2024
I believe it’s crucial for investors not to miss out on the Bitcoin opportunity given its current state. The cryptocurrency has dipped slightly and hovers around $71,000 after reaching a peak of $71,321 just hours ago.
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2024-06-06 12:38