Bitcoin Specialist Samson Mow Explains Why BTC Isn’t Valued at $10 Million Per Coin Yet
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Samson Mow, an authority on Bitcoin and the CEO of JAN3, a company dedicated to BTC infrastructure, has presented a provocative opinion regarding the current price of the leading cryptocurrency. Mow believes that Bitcoin has yet to reach its full potential and asserts that it should already be valued at $10 million per coin.
Reasons Bitcoin Has Not Hit $10 Million Yet
In a recent message on X (formerly Twitter), Mow expressed, “If the world truly understood Bitcoin, we would currently see a price of $10 million a coin.” This statement underscores his belief that Bitcoin’s fundamental worth is significantly undervalued and misapprehended.
Additional Insights
For Mow, Bitcoin transcends mere trading; it represents a transformative asset capable of disrupting the very fabric of the existing financial system. Given its finite supply, decentralized framework, and steadily increasing value, many consider BTC to possess the potential to serve as a global reserve currency.
However, despite the ongoing increase in adoption and awareness, Mow contends that a majority of the global populace, including businesses, lawmakers, and merchants, still lack a complete understanding of Bitcoin and its broader implications. He asserts that this gap in knowledge is preventing Bitcoin from realizing the dramatic price increase that he and numerous other long-term advocates expect.
Although the $10 million valuation remains speculative at this time, Mow’s comments mirror a widespread sentiment among Bitcoin proponents who perceive the current price as only the initial step. For instance, prominent Bitcoin supporters like Michael J. Saylor, the head of MicroStrategy, have expressed comparable opinions, forecasting a dramatic increase in Bitcoin’s worth to $10 million by the year 2035.
Similarly, Matt Hougan from Bitwise has conveyed strong confidence in Bitcoin reaching a valuation of $1 million, stating that this milestone could be realistically achieved within the next five years.
Rising Demand for BTC Among Wealthy Investors
With the growing conviction that Bitcoin’s price will only increase in the long term, reports on social media indicate a notable uptick in interest and demand from affluent individuals and financial institutions. Saylor, one of the most vocal proponents of Bitcoin, has been actively adding the cryptocurrency to his holdings in significant quantities.
Additional Insights
Donald Trump, the President of the United States, has also publicly endorsed Bitcoin, with reports suggesting that he is making active investments in the leading cryptocurrency. Furthermore, investment mogul and hedge fund manager Hugh Henry revealed earlier this month his intention to sell his $35 million home to acquire $10 million worth of Bitcoin.
Richard Teng, the CEO of Binance, further indicated a surge of interest among wealthy investors in Bitcoin, noting that sovereign wealth funds and high-net-worth individuals are now purchasing BTC like never before. This increasing accumulation by institutions and affluent investors signifies strong confidence in Bitcoin’s long-term viability and worth.
Image source: Getty Images, chart details from Tradingview.com
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