Introduction
The CEO of JAN3, Samson Mow, predicts that Bitcoin (BTC) could reach $1 million in a matter of days to weeks after the approval of a spot BTC exchange-traded fund (ETF). Mow believes that the influx of institutional capital following the approval will cause a surge in Bitcoin's price.
The Impact of Institutional Capital
According to Mow, the approval of a spot Bitcoin ETF will result in a limited supply of Bitcoin on exchanges, leading to a surge in demand. The inflow of institutional capital is expected to drive the price of Bitcoin to new heights.
Bitcoin ETF vs Money Printing
Mow compares the impact of a spot Bitcoin ETF approval to the effect of central bank money printing. He explains that money printing takes years to permeate the economy, while the effects of a Bitcoin ETF approval will be much quicker.
A Faster Rally to $1 Million
Mow believes that the rally to $1 million after the approval of a spot Bitcoin ETF will happen much faster than previous Bitcoin rallies. He refers to the 2017 rally, which took nine months to increase Bitcoin's price by 20 times. However, with billions of dollars pouring in all at once through ETF approvals, Mow expects the timeframe for the rally to be much shorter.
Conclusion
According to Samson Mow, the CEO of JAN3, the approval of a spot Bitcoin ETF could push the price of Bitcoin to $1 million in a matter of days to weeks. Mow believes that the influx of institutional capital will cause a surge in demand and a limited supply of Bitcoin on exchanges. He expects the rally to $1 million to happen much faster than previous Bitcoin rallies. To learn more about Mow's price prediction, watch the full interview on our YouTube channel.
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