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.”
Yes.
That’s the answer to “can you take #Bitcoin higher?”— Samson Mow (@Excellion) March 4, 2024
Mow is one of those Bitcoin maximalists who expect the world’s leading digital currency, Bitcoin, to reach a monstrous $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 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 for the reasons of the US government printing “too much money” recently ($6 trillion in 2020 pandemic year alone) and the US national debt going through the roof (the “ceiling” for it was removed at 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: the 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, the BlackRock’s fund iShares surpassed the $10 billion mark. Besides, Mow has been reminding the community that the Bitcoin halvening is approaching.