Samson Mow, the CEO and Co-Founder of Jan3, a revolutionary blockchain tech company, is convinced that Bitcoin is on its way to tapping $1 million in price value.
Mow, who also describes himself as a Bitcoin bonds “architect,” maintains that Balaji S. Srinivasan, a popular Bitcoin supporter who predicted that Bitcoin would hit the same price point, is spot on with his forecast.
However, he seems to disagree with Srinivasan on the length of time it would take for Bitcoin bulls to gain enough momentum to bring this price prediction to reality.
“Balaji wasn’t wrong about Bitcoin going to $1M, but he was wrong on the timing and the catalyst. My $1M call is based on a massive rapid influx of institutional capital while Bitcoin available for sale is at historical lows, compounded by the halving.” He wrote in a recent post shared to X, formerly Twitter.
Pro-Bitcoiners have historically remained loyal to Bitcoin’s potential, as such, price predictions from these figures are usually as bullish as they come. While some market players choose to play it safe and make modest predictions, Bitcoin supporters are often seen making bold long-term forecasts.
Balaji S. Srinivasan, an Indian-American entrepreneur, investor, and former chief technology officer at Coinbase
is one such example. Back in March, Srinivasan made a $1 million bet on Bitcoin tapping $1 million within a 90-day time frame due to the rising inflation in the United States.
He made a bet of 1 BTC and $1 million in the USD Coin (USDC) with James Medlock, who initially tweeted that he’d bet anyone $1 million that the US wouldn’t enter hyperinflation. Should Bitcoin’s price fail to tap $1 million on the 17th of June, Medlock would win the bet. Months later, Srinivasan lost the bet as Bitcoin failed to meet expectations.
Insisting that Bitcoin will take a different pathway from its current position to $1 million, Mow wrote the following;
“His [Balaji S. Srinivasan] $1M prediction was predicated on money printing and banks failing. Those two things could potentially be a driver for a rapid run to $1M but not likely. The money printing already happened and then dried up. It will take a few more years for the market to adjust accordingly.”
Should traditional banks fail, pro-bankers will find a safer bank as they are yet to realize that banks are not as safe as Bitcoin, which is their only option, he concluded.
Source: Read Full Article