Jan3 CEO Samson Mow said Bitcoin is on track to hit $1 million per coin this year or the next based on market conditions, the upcoming halving, and broader economic factors.
Mow made the statement during a podcast appearance on March 12, reaffirming previous predictions regarding Bitcoin reaching a seven-figure price level.
Mow’s bullish stance on Bitcoin’s future comes at a time when the crypto market is witnessing an unprecedented level of interest from institutional investors, as seen with the involvement of entities like BlackRock and the emergence of spot Bitcoin ETFs.
The Veblen effect
Mow said that the demand for Bitcoin is far outstripping its supply — a trend that’s only expected to intensify with the upcoming Bitcoin halving, which has historically significantly impacted the crypto’s value.
The halving will reduce the number of bitcoins generated per block, effectively slashing the new supply of Bitcoin by 50% to 3.125 BTC per block or 400 BTC per day.
Mow believes
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