Samson Mow Reaffirms Bitcoin's Potential To Reach $1 Million

According to U.Today, Samson Mow, CEO of JAN3 and a prominent Bitcoin advocate, has reiterated his prediction that Bitcoin will reach the $1 million mark in the near future. Mow referenced the movie "The Big Short," which highlights the financial crisis that led to Bitcoin's creation, to emphasize his forecast. Despite Bitcoin's recent 6.35% decline after hitting a new peak last Friday, Mow remains optimistic about its potential to surpass $100,000 soon. Mow addressed the global Bitcoin community through a tweet, reaffirming his $1 million Bitcoin price prediction within the next year. He expressed confidence in Bitcoin reaching "$0.1M then $1.0M," quoting "The Big Short" to underline his point. The movie, based on true events, depicts traders like Michael Burry who profited from the 2008 mortgage market collapse. Currently, Bitcoin is trading at $93,500, having recovered some losses following an 8% drop on Monday. Mow also mentioned a "Black Friday Bitcoin sale," encouraging the community to buy Bitcoin during the dip. Michael Saylor, another well-known Bitcoin supporter, announced plans for a $100,000 Bitcoin party at his home in December 2024, anticipating Bitcoin will reach this milestone by then. Meanwhile, Charles Edwards, founder and CEO of Capriole Investments, shared his views on why Bitcoin has not yet surpassed $100,000. He cited the recent 25% drop in MSTR shares and noted that many traders are currently selling Bitcoin. Edwards believes that the general public, or "nocoiners," are not mentally prepared for Bitcoin to exceed $100,000, describing this price level as "the biggest sell wall ever." However, he remains confident that Bitcoin will eventually break through this barrier and predicts that once it does, the next $100,000 increase will occur rapidly.