Samsun Mow spoke: $BTC 100,000 DOLLARS WILL BE SEEN
Well-known Bitcoin advocate and Jan3 CEO Samson Mow shared his views on how long it will take for Bitcoin to reach the $100,000 level on social media platform X (formerly Twitter).
Mow called this level “$0.1 million” as he predicted Bitcoin would eventually and inevitably reach $1 million. Mow posted a few more tweets about Bitcoin's growing importance, expressing his thoughts on why the cryptocurrency is soaring.
Samson Mow listed two main reasons to expect Bitcoin to reach $100,000. First, he believes Bitcoin must surpass its all-time high of $73,750, reached on March 14. According to Mow, this new peak will create a demand shock and push Bitcoin to “$0.1 million.”
Over the last 24 hours, Bitcoin rose an impressive 2.6% to $70,860. BTC reclaimed $70,000 on May 4, rising by almost 3% with three consecutive large green candles.
This sharp price increase can be explained by the large inflows of spot Bitcoin ETFs that occurred on the same day, resulting in a total net inflow of $887 million. This is the largest daily inflow since the Bitcoin ETF approval in January.
BlackRock's iShares Bitcoin Trust (IBIT) recorded a significant inflow of $274 million, while ARK 21Shares Bitcoin ETF (ARKB) recorded a significant inflow of $139 million.
Mow tweeted that it was “a miracle Bitcoin stayed below $0.07 million for this long,” while assessing buying levels compared to the current Bitcoin supply.
