Crypto Updates

Bitcoin Price Can Reach $1 Million ‘In a Matter of Weeks,’ JAN3 CEO Says

Bitcoin Price Can Reach $1 Million ‘In a Matter of Weeks,’ JAN3 CEO Says

Samson Mow, CEO of bitcoin company JAN3, outlined a “multiplier effect” that can drive exponential price gains as demand rises.

Speaking with Spanish news channel Negocios TV, JAN3 CEO and longtime bitcoin analyst Samson Mow outlined why he believes the limited bitcoin supply is poised to press up against a “multiplier effect” that can push the price to “$1 million very quickly, in a matter of weeks.”

Perspective: Mow described why he believes an imminent supply shock will drive significant bitcoin price gains as new institutional capital enters the space following the approval of spot bitcoin exchange-traded funds (ETFs) in the U.S.

“We talk often about a supply crunch, a supply shock, and that’s because there’s not much bitcoin available to buy between thousands of exchanges around the world,” he explained during the interview, an excerpt of which is included in the video above. “Maybe there’s a million, 2 million bitcoin available for purchase. There’s probably $10 (billion), $20 billion of capital that’s going to flood in right away. That’s going to go into this small supply of available bitcoin.”

Mow added that this “rapid injection of capital” is what creates a “multiplier effect” on the bitcoin price.

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