Originally published on: November 29, 2024
As Bitcoin edges closer to the historic $100,000 milestone, the cryptocurrency community is abuzz with excitement and speculation. In an insightful interview with Cointelegraph, Samson Mow, a prominent Bitcoin proponent and CEO of JAN3, shares his bold predictions for what lies beyond this crucial benchmark.
According to Mow, surpassing $100,000 signifies more than just a numerical achievement—it signals the beginning of an era of explosive growth. “Post 100K, that’s when things start to heat up and accelerate,” says Mow. He anticipates that Bitcoin’s value could see exponential surges, with daily price fluctuations increasing from thousands to tens of thousands.
Mow sheds light on the global factors underpinning Bitcoin’s meteoric rise, citing the waning trust in traditional financial systems as a key driver. He envisions a future of hyperbitcoinization, where Bitcoin supplants fiat currencies completely. “It’s the point at which we no longer need to convert Bitcoin back to fiat currencies like the dollar or yen […] Most importantly, everyone only wants Bitcoin,” explains Mow.
Drawing parallels to mounting global debt, Mow emphasizes the pressing need for a decentralized financial alternative. “The US debt is spiraling out of control. We are at $36 trillion right now… But now you’re $36 trillion in debt,” he points out.
In addition to these macroeconomic trends, Mow highlights the pivotal role played by institutional investors like MicroStrategy in propelling Bitcoin’s ascent. “MicroStrategy […] adds gasoline on that fire by creating this Bitcoin reactor,” he remarks, alluding to the corporation’s strategic move of converting corporate assets into Bitcoin.
With Bitcoin’s trajectory poised to reshape the financial landscape, many are left wondering: could a $1 million Bitcoin be on the horizon sooner than expected? Find out more about Mow’s insights and predictions by watching the full interview on our YouTube channel now!