Samson Mow Predicts Bitcoin Will Reach $1 Million ‘Very Soon’

The price of the leading cryptocurrency is expected to surpass $1 million in the coming years, according to Samson Mow, CEO of JAN3, who shared his views on Peter McCormack’s podcast, What Bitcoin Did.

“I think we will reach $1 million this year. If not this year, then next, but it will happen very soon,” he stated.

The expert attributed this optimistic forecast to a combination of high demand ahead of the halving, which will reduce the supply of digital gold. Mow identified this event as a key factor.

He also pointed to significant capital inflows into spot bitcoin ETFs. According to the CEO of JAN3, higher prices for the leading cryptocurrency will increase demand due to the Veblen effect.

On Wednesday, March 13, digital gold exceeded $73,000, followed by a correction. On the night of March 17, bitcoin fell below $65,000. At the time of writing, the leading cryptocurrency is trading at $65,350.

The total market capitalization of digital assets has fallen below $2.6 trillion, according to CoinGecko.

According to Coinglass, the liquidation volume reached $620 million in the last 24 hours, with $532 million being long positions.

Back in December 2023, Mow predicted that the price of the leading cryptocurrency would rise to $1 million following the approval of the first US spot bitcoin ETF by the SEC.

In January 2024, ARK Invest CEO Cathie Wood predicted bitcoin could reach $1.5 million by 2030, citing institutional funds flowing into exchange-traded funds as a reason for the potential asset growth.