Samson Mow predicts that bitcoin will reach $ 1 million under any market conditions

Well-known industry figure and bitcoin supporter Samson Mow has once again expressed his bullish view of the main cryptocurrency, predicting a future in which the price of BTC will reach $ 1 million.

Mow, who often shares his optimistic views on social media, emphasized that it is not a question of whether bitcoin will reach this mark, but when.

As the CEO of JAN3, a company dedicated to accelerating bitcoin adoption through infrastructure and financial services, Mou constantly shares positive predictions about its future. He bases his predictions on the current dynamics of bitcoin supply and demand, emphasizing that the demand for the cryptocurrency far exceeds its available supply.

One of the key factors Mou emphasizes is the role of spot bitcoin ETFs. These are financial instruments that allow investors to access BTC without directly owning the asset through traditional markets.

According to the latest data, bitcoin ETFs currently hold more than a million bitcoins, which is approximately 5% of the total supply in circulation. In addition to exchange-traded funds, Mou also emphasized the significant inflow of bitcoins to exchanges as another indicator of sustained demand.

Even if his basic theory is not confirmed, Mou notes the importance of the «Veblen effect» in the case of bitcoin. The Veblen effect is a phenomenon in which the demand for a product increases with its price, which contradicts standard economic theory. This effect suggests that rising prices can spark interest and investment in BTC.