Samson Mow, the Chief Executive Officer (CEO) of Jan3 and a well-known investor in Bitcoin has shared his positive outlook for the future of the dominant cryptocurrency on a popular social media platform, with a considerable audience of 271,000 individuals who are keenly interested in his perspectives on Bitcoin and other digital assets.
Mow stated that he has noticed some accounts he calls “influential” ones bashing Bitcoin. He clarified that he uses the term “influential” loosely and that these accounts “may include third-rate comedians.”
However, he did not let these negative voices affect his confidence in BTC. He concluded his tweet with a bullish message: “Feels like we’re about to win.”
Mow’s tweet came after BTC reached a new high of $44,000, the highest level this year. This was a remarkable recovery from the previous low of $28,000 in July. Since then, mow has been more active on X social media platforms, sharing his insights on Bitcoin’s price movements and market trends.
However, Bitcoin’s rally was short-lived, as it soon plunged below $41,000, wiping out billions of dollars in market value. Mow did not seem bothered by this volatility, as he tweeted on Saturday that he was “bored” with BTC hovering at $44,000. He added that he welcomed a minor correction, as “s-coins” (sh*tcoins) had been rising too much along with Bitcoin, and “they need to cool off.”
Long-Term Holders Key To Bitcoin’s Supply-Driven Surge
Mow is bullish not only on Bitcoin’s short-term prospects but also on its long-term potential. He believes that BTC will eventually reach a staggering $1 million per coin, a prediction made by the late John McAfee before he changed his mind and started criticizing Bitcoin.
Mow explained that the main reason for such a huge Bitcoin price increase is the combination of demand and supply shocks. He said that institutional investors are buying up all the available Bitcoin, creating a scarcity in the market. He also said that long-term holders will not sell their BTC as they know its value.
Moreover, he said that the next halving event, which will reduce the new supply of BTC by half, will further boost the price. He estimated that the halving will occur in 2024 and produce slightly over 3 BTC per block, compared to 6.25 BTC generated since May 2020, when the previous halving took place.
However, BTC is currently trading at a price of $42,126.16, with a market cap of $824.27 billion USD. BTC has experienced a decrease of 5.11% in the past 24 hours and 1.72% of a slight increase in the last seven days, and its circulating supply is 19.57 million.
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