Samson Mow, a vocal advocate for Bitcoin and CEO of JAN3, recently posted a tweet to poke fun at those skeptics who questioned whether Bitcoin could soar to $100,000 in value and outsize Saudi Aramco’s market capitalization.
He shared a tweet containing what appeared to be a compilation of uncertainties voiced by several Bitcoin skeptics when the leading cryptocurrency was valued at $10,000. However, Mow indicated that this was an analysis from a single NPS analyst without disclosing their identity.
Bitcoin surpassed Saudi Aramco, Mow reminds us
As an analyst, I recently came across a tweet that was attributed to “an old NPC analyst” and expressed skepticism about Bitcoin’s potential to surge from $10,000 to $100,000. This skeptic pointed out that if such a rise were to occur, it would position Bitcoin as the 7th largest asset by market capitalization, surpassing Saudi Aramco in size.
As a crypto investor, I firmly believe that any price predictions should be grounded in real-world facts and figures. If I’m expressing my views publicly, it’s essential that they are based on solid evidence, even if I’m conversing with someone like Mow on Twitter. However, as he didn’t share any specific details from our conversation, I can only assume that this quote might have been taken out of context.
— Samson Mow (@Excellion) January 17, 2025
In a comment, Samson Mow shared an image demonstrating that at present, Bitcoin holds the seventh spot among assets ranked by market capitalization size. The Saudi Aramco oil refineries occupy the eighth position, just behind Bitcoin. Notably, Amazon, Alphabet (Google’s parent company), Microsoft, and Apple are positioned higher than Bitcoin on this list.
Bitcoin skyrocketing was not “hopium”
This afternoon, Mow shared a quote from an unidentified expert who made a prediction about Bitcoin’s price back when it was valued at $100. The expert foresaw that the value of Bitcoin would increase to $150 by the end of that year (presumably 2013).
The analyst in question asserted that reaching a value of $1,000 for BTC was considered “10 times” the current price (as per the tweet above), and he found such an increase “impossible”. He had initially thought the highest Bitcoin could go was $200, but not $1,000. In his opinion, those who held the belief that it would soar much higher were merely indulging in wishful thinking or unrealistic optimism, as he put it, they were “smoking pure hope”.
Indeed, I anticipate Bitcoin to increase from $100 to around $150 this year. Achieving $1000 would represent a 10-fold increase, which I believe is highly unlikely. If market conditions become overly optimistic, it could potentially reach $200, but $1000 seems excessively optimistic – that’s more like wishful thinking fueled by hope.
— Samson Mow (@Excellion) January 16, 2025
Currently, a single Bitcoin is being traded at approximately $102,221 following a 2.13% increase over the last day. Over the past seven days, its value has soared by over 12%, climbing from around $90,680 to its present range of around $102,200.
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2025-01-17 14:37