Category: Forex News

‘$1 Million Bitcoin’ Advocate Samson Mow Comments on BTC Surge As It Nears $70,000

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Samson Mow, prominent Bitcoin maxi and chief executive at Jan3, has published a bullish comment on the latest price surge. On March 4, BTC shocked the crypto world and pleased the Bitcoin community by skyrocketing above the $68,000 price level.

Mow’s company Jan3 is focused on spreading Bitcoin adoption by nation-states. It was Samson Mow who contributed to El Salvador adopting BTC as a legal tender in 2021, making it the first country ever that gave up using fiat money on the state level.

Mow comments on Bitcoin’s upward maneuver 

Samson Mow tweeted his answer to the question, which he has been apparently hearing on Twitter/X quite frequently – “can you take Bitcoin higher?” His answer to this, according to the tweet is “yes.”

Mow is one of those Bitcoin maximalists who expect the world’s leading digital currency, Bitcoin, to reach the massive $1 million mark in the near future. Before it happens, he expects so-called “omega” and “god” candles to take place.

Bitcoin to $1 million inevitably – Mow provides reasons

An “omega” candle is a $100,000 candle on the daily chart, as he explained in one of the podcasts he took part in recently. A “god” candle is a $10,000 candle on the same type of chart. A “god” candle must happen first, he believes, with “omega” to follow it.

He believes that $1 million is an inevitable level to reach for Bitcoin, mainly because the U.S. government printed “too much money” recently ($6 trillion in pandemic year 2020 alone), and the U.S. national debt is going through the roof (the debt “ceiling” was moved from the $31.4 trillion threshold in 2023 and, by now, the debt has exceeded $34 trillion.

Besides, in his earlier tweet the Jan3 boss named another important reason that supports his “Bitcoin to $1 million” expectation: supply and demand shock for Bitcoin meeting each other. Since the SEC-approved launch of spot Bitcoin ETFs in mid-January, these ETF providers have been acquiring Bitcoin daily, scooping up from $400 million to close to a billion USD worth of BTC every week. Recently, BlackRock’s fund iShares surpassed the $10 billion mark. In addition, Mow has been reminding the community that the Bitcoin halvening is approaching.

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